Blade Ranger: Consideration from PainReform Transaction Continues to Mature Following Growth in Software Sales
Blade Ranger: Consideration from PainReform Transaction Continues to Mature Following Growth in Software Sales |
| [27-May-2025] |
As a result of increased software sales by the acquirer, and in accordance with the terms of the software business sale agreement, a significant number of zero-exercise-price warrants have matured—Blade Ranger now holds approximately 1 million shares and warrants exercisable at no additional cost TEL AVIV, Israel, May 27, 2025 /PRNewswire/ -- Blade Ranger Ltd. (TASE: BLRN), a company listed on the Tel Aviv Stock Exchange, announced the achievement of a first milestone in the transaction involving the sale of its DeepSolar operations to PainReform (NASDAQ: PRFX). According to the agreement, which was completed in March 2025, Blade Ranger received a package of securities that included, among other things, common shares of PainReform representing approximately 9.9% of the company's equity, as well as approximately 3.08 million warrants convertible into common shares, some of which are subject to milestone achievements. Now, as a result of reaching the first milestone, the company has received 685,004 warrants exercisable at an exercise price of $0.01 per share, while PainReform's shares are currently trading at approximately $1.91. Following receipt of these warrants, Blade Ranger holds shares and warrants (with a $0.01 exercise price) worth approximately $2 million based on the share price at the time of this announcement. Blade Ranger's CEO commented: The market value of the shares that may be derived from the matured warrants, based on the current share price, is approximately NIS 4.5 million.
SOURCE Blade Ranger Ltd. | ||
Company Codes: NASDAQ-NMS:PRFX, TelAviv:BLRN, TelAviv:BLRN-L |
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