IVAX Diagnostics (IVD) Amends Major Stock Purchase Agreement With ERBA Diagnostics
Miami-based IVAX Diagnostics, an in-vitro diagnostics company, has entered into an amendment to an April 8, 2011, agreement with ERBA Diagnostics Mannheim GmbH, in which IVAX agreed to sell to ERBA 20 million shares of IVAX common stock at a price of $0.75 per share, plus warrants to purchase an additional 20 million shares, with the purchases spread over three separate closings. The amendment changes the terms relating to the timing of the second closing and the final closing. Instead of the second closing occurring 6 months or less after the initial closing, it will now occur 60 days after…