Aetrium Acquires KBS Building Systems

Deal included $5m in cash

Aetrium Incorporated (Nasdaq:ATRM) announced today that it has acquired substantially all of the assets of KBS Building Systems, Inc. and certain of its affiliated entities. KBS, which is based in South Paris, Maine, manufactures, sells, and distributes modular housing units for both residential and commercial use.

“Aetrium is excited to expand its operations through the acquisition of KBS, which we believe will generate long-term value for our shareholders,” stated Jeffrey E. Eberwein, Chairman of the Board of Directors of the Company.

Consideration for the acquisition included $5 million in cash, a $5.5 million six-month promissory note made by a wholly-owned subsidiary of Aetrium, the assumption and payoff of approximately $1.4 million in debt, and the assumption of certain other liabilities related to the purchased assets. The acquisition was financed by $6.5 million in loans ($0.5 million of which is convertible into Aetrium common stock) from Lone Star Value Investors, LP, an investment fund managed by Mr. Eberwein.

In a statement the company said that “These forward-looking statements are based on information currently available to us and our current plans or expectations, and are subject to a number of uncertainties and risks that could significantly affect current plans, anticipated actions and our future financial condition and results. Certain of these risks and uncertainties are described in greater detail in our filings with the Securities and Exchange Commission.

“We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Charles Russell-Pavier

• 

  Alexander Evagora

• 

  Graham Neary

• 

  Angelina Jennifer