Authentix, Inc. entered into an Asset Purchase Agreement to acquire Substantially all of the assets of Nanotech Security Corp. for $10 million on July 3, 2024. In addition, as a condition to closing of the Transaction, the parties agreed that certain NSC employees would be terminated by NSC prior to closing, and Buyer would make offers of employment to such employees on terms no less favorable than current employment terms with NSC. The Transaction is subject to customary closing conditions and covenants, including the conduct of the authentication business prior to closing, perform Due Diligence by Authentix, Authentixwill have received cash proceeds from the required financing arrangements in an amount necessary to finance the Transactions, and Authentix will have received approval from their respective board of directors to complete the Transactions. The transaction is expected to close on July 10, 2024. Bradley Cosman of Perkins Coie LLP acted as legal advisor for Nanotech Security Corp. Sean Zweig and Sarah Harper of Bennett Jones Services Limited Partnership acted as legal advisor for Authentix, Inc.

Authentix, Inc. completed the acquisition of Substantially all of the assets of Nanotech Security Corp. for on July 16, 2024.