- POAI CEO exchanges $2.1 million promissory note for newly issued stock shares
- Strategic agreement enables company to strengthen balance sheet, simplify capital structure in plan to commercialize highly valuable database
- Because of its unique patient inventory, Helomics is only company with ability to profile tumors
In a significant move indicating strong confidence in the company’s future, Predictive Oncology Inc. (NASDAQ: POAI) CEO Dr. Carl Schwartz has entered into an agreement exchanging a $2.1 million promissory note for equity in the company, which has established itself as a leader in the cancer precision-medicine field. In addition, during a recent interview, Schwartz called POAI’s subsidiary Helomics a “major asset,” and noted (http://nnw.fm/54qVZ) that the company’s “claim to fame is its inventory of over 150,000 cancer tumors covering over 137 types of cancers, with over 30,000 related to ovarian cancer, which is sort of our specialty.”
The agreement, which was released late last month, outlines the details: Schwartz has exchanged the promissory note for newly issued shares of common stock – $0.01 par value of the company at market value. The debt-to-equity arrangement was negotiated on an arms-length basis between Predictive Oncology and…
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://nnw.fm/POAI
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