According to the terms of the agreement, Helix will purchase 100% of VENCO for $3.9m consisting of cash and Helix common stock. In addition to acquiring the assets and technology, VENCO’s personnel, including engineering staff, will be added to Helix's existing team.
Closing is conditioned upon, among others, the receipt of audited financial statements of VENCO in accordance with SEC rules and Helix’s ability to raise at least $5m in additional working capital.
Helix,
