Eternal Sun USA, LLC entered into an asset purchase agreement to acquire substantially all of the assets of Sun Simulator technology line from Spire Corp. (OTCPK:SPIR) for $1.5 million on January 11, 2016. Under the terms, of the consideration, $0.1 million has been paid as non-refundable deposit and the remaining $1.4 million will be paid from immediately available funds.

Eternal Sun will also assume certain liabilities associated with the line. The transaction is subject to approval from Board of Directors of Spire and Eternal Sun. The transaction was approved by Board of Directors of Spire.

Gary Greenberg of Greenberg Traurig LLP acted as legal advisor for Spire while John F. Cohan of McLane, Graf, Raulerson & Middleton acted as legal advisor for Eternal Sun. Mirus Securities, Inc. acted as financial advisor for Spire Corp.