Thorne HealthTech, Inc. (NasdaqGS:THRN) acquired PreCon Health, Inc. from Eigenlyfe LLC for $5 million on January 11, 2023. Under the stock purchase agreement, PreCon Health, Inc. was acquired for an aggregate purchase price of $5.0 million in cash, consisting of $4 million in cash at the time of closing, $1 million in cash payable on or before ninety (90) days after the closing and a royalty payment to a related party of PreCon acquisition in an amount equal to five percent (5%) of the gross sales revenue from the sale of the PreCon products from and after such time as the company achieves $5.0 million of gross profit. In the event Thorne HealthTech does not pay the second installment of $1.0 million in cash consideration on or before April 11, 2023, and such non-payment is not cured, the royalty payment rate will automatically increase from five percent (5%) to seven percent (7%). Thorne HealthTech will pay royalties to Eigenlyfe an amount equal to 5% of the gross sales revenue from the sale of products from and after such time as the Thorne HealthTech achieves Five Million Dollars of Gross Profit. Judd H. Cohen of Meister Seelig & Fein LLP acted as legal advisor to PreCon Health, Inc. and Eigenlyfe LLC.

Thorne HealthTech, Inc. (NasdaqGS:THRN) completed the acquisition of PreCon Health, Inc. from Eigenlyfe LLC on January 11, 2023.