Item 2.01 Completion of Acquisition or Disposition of Assets.
On June 23, 2020, ERBA Diagnostics, Inc. (the "Corporation"), entered into, and
consummated the transactions contemplated by, a Deed of Sale (the "Deed of
Sale") with Inovabio S.r.l., Redix Consulting Limited Liability Company and
Kolodziejczyk Waldemar (collectively, the "Buyers", and each, a "Buyer"),
pursuant to which the Buyers purchased from the Corporation all of the issued
and outstanding shares of capital stock in Delta Biologicals, S.r.l ("Delta"),
the Corporation's wholly owned subsidiary located in Italy (the "Acquisition"),
for the aggregate net purchase price of 50,000 Euros (the "Purchase Price"). At
the closing of the Acquisition, each of the Buyers issued a promissory note in
favor of the Corporation, which promissory notes collectively have an aggregate
principal amount of the Purchase Price, are due and payable on June 22, 2021,
and were registered with the government of the Italian Republic. The
Acquisition, the Deed of Sale and each of the promissory notes are governed by
the laws of the Italian Republic.
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