PositiveID Corporation (OTCPK:PSID) agreed to acquire Thermomedics, Inc. from Sanomedics, Inc. (OTCPK:SIMH.D) on October 13, 2015. PositiveID Corporation (OTCPK:PSID) signed a definitive agreement to acquire Thermomedics, Inc. from Sanomedics, Inc. (OTCPK:SIMH.D) for $2.8 million in cash and preferred stock on October 21, 2015. As consideration, PositiveID will pay, $0.3 million in cash and $0.5 million in Series J convertible preferred stock. Additional earn-out payments of 0.8 million for each fiscal year ending 2016 and 2017 may be earned by Sanomedics if certain revenue thresholds are met. Earn-out payments will consist of 25% cash up to $0.18 million and 75% Series J convertible preferred stock up to 563 shares. On October 13, 2015, the Sanomedics' Board of Directors and majority stockholders approved the transaction. The acquisition is subject to the approval of Sanomedics shareholders. The deal is expected to close during the fourth quarter of 2015. As of December 4, 2015, PositiveID Corporation amended the agreement to acquire Thermomedics, Inc. As per the agreement, PositiveID will pay $0.4 million in cash and $0.125 million in Series J convertible preferred stock. And will pay an earnout amount of $1.5 million which will be paid 25% in cash and 75% in Series J convertible preferred stock. In the event of termination of the agreement, Sanomedics and Thermomedics must pay PositiveID the amount of any cash advances made, plus interest and a termination fee of $0.25 million. Also the closing of the transaction as per the amended agreement is expected to occur in the first or second quarter of 2016 pending the satisfaction by seller of certain closing conditions. Gregg Jaclin of Szaferman, Lakind, Blumstein & Blader, P.C. acted as legal advisor for PositiveID Corporation. PositiveID Corporation (OTCPK:PSID) completed the acquisition of Thermomedics, Inc. from Sanomedics, Inc. (OTCPK:SIMH.D) on August 25, 2016.