Thinly traded micro cap BioLife Solutions (BLFS -15.6%) has increased its stake in SAVSU Technologies to 44% with a $5M investment. SAVSU will use the money to scale up its operations and inventory to support market demand for its evo Dry Vapor Shippers and other temperature-controlled shipping containers for cell and gene therapies.
BioLife has an 18-month option to acquire the remaining 56% of SAVSU that it does not own for the greater of 1M shares of stock or $23M worth of stock. If it exercises the option, then 75% would be issued at closing and 25% upon the achievement of certain revenue milestones.
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