TearLab Corporation Confirms Merger Discussions
May 07, 2020 08:00 ET | Source: TearLab Corporation
ESCONDIDO, Calif., May 07, 2020 (GLOBE NEWSWIRE) -- In light of recent market rumors, TearLab Corporation (OTCQB: TEAR) (“TearLab”) today confirmed that TearLab is engaged in advanced discussions regarding a potential business combination whereby TearLab will be acquired at a price per share equal to $0.0586. Any transaction would be subject to the approval of TearLab’s board of directors and stockholders, as well as other customary conditions contained in a definitive agreement.
TearLab cautioned that no agreement has been reached. TearLab also noted that there cannot be any assurance that an agreement will be reached or, if an agreement is reached, that a transaction will be completed. Accordingly, prior to making investment decisions, investors should take into consideration all publicly available information about TearLab, including in relation to TearLab’s noncompliance with the minimum revenue covenant in TearLab’s Term Loan Agreement with CRG LP, as amended, in 2019, as disclosed in TearLab’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019.
Subject to applicable laws and regulations, TearLab plans to make no further statement about these discussions until they are terminated, or until a definitive agreement is reached.
“Life is not measured by time. It is measured by moments.”
