CryoPort Inc (CYRX)

[H2R]

Cryoport to Acquire MVE Biological Solutions from Chart Industries for $320 Million

BY MT Newswires
— 8:23 AM ET 08/25/2020
08:23 AM EDT, 08/25/2020 (MT Newswires) -- Cryoport ( CYRX ) , a provider of supply chain solutions for the life sciences industry, has agreed to acquire MVE Biological Solutions, a provider of cryogenic storage and transportation solutions, from Chart Industries, Inc. ( GTLS ) in an all-cash transaction valued at $320 million.

To fund the acquisition, Cryoport ( CYRX ) is receiving a $275 million investment from funds managed by Blackstone's (BX) Blackstone Tactical Opportunities. Blackstone will purchase $250 million of a newly designated perpetual 4% series C convertible preferred stock with a purchase price of $1,000 per share, and $25 million of the company's common stock. The remainder of the purchase price for the acquisition will be paid from Cryoport's ( CYRX ) cash balance.

CYRX in acquisition mode. I worked for a hypergrowth company in the early 2000's. Acquisitions was the fuel.

Best of luck with your investments!