Pressure BioSciences (PBIO) to Consider Strategic Financing and Spin-off Options
Today Pressure BioSciences, Inc. (PBIO-OTC) announced a relationship with IssuWorks, a company that strives to provide services and technology to improve capital formation, distribution, and aftermarket results for issuers, investors, and investment banks. Pressure BioSciences has retained IssuWorks and its management team to review the Company’s strategic and financing alternatives, including the possible spin-off of vertical market applications into new, stand-alone businesses.
As excerpted from Pressure BioSciences’ press release…
IssuWorks is the brainchild of noted Wall Street executives, including David Weild and Ed Kim, who are recognized in the U.S. and abroad for their work on how stock market structure can impact a company's stock price and their access to capital. David has been called "The father of the JOBS Act" for work with Ed Kim that created the intellectual underpinnings for most of that Act. The JOBS Act created new techniques in equity finance, including crowd-funding of securities to accredited investors, and the entirely new category of IPO called an "Emerging Growth Company." David, a former vice chairman of NASDAQ, ran both corporate finance and the equity new issues business of a major Wall Street firm where he oversaw all industry groups including healthcare and technology investment banking. Ed worked in biotech equity research and technology investment banking at major Wall Street firms before running new products at NASDAQ.
IssuWorks will be compensated in the form of warrants with an exercise price at a premium to PBIO’s current stock price as well as additional compensation on a success-fee basis.
Regarding the announcement, Pressure BioSciences’ CEO Mr. Richard T. Schumacher commented: "We are excited to have Dave, Ed, and the rest of the IssuWorks Team on board. Their knowledge, experience, and worldwide network will be a major asset to PBI. We believe that our proven PCT platform has only just begun to fill a very large and growing market need. We also believe that the number of PCT-based applications with real and exciting market potential exceeds the number we can reasonably work on. Thus, with help and guidance of IssuWorks, we will immediately begin to look at various strategic and financing alternatives that we believe have the potential to result in the generation of increased value for all shareholders of PBI."
For more detailed information about the Company, its product lines, and market opportunities, visit our Corporate Profile page for Pressure BioSciences to download the latest research, headlines, and other presentations.