SOHM Inc (OTCMKTS:SHMN), which is best known for its work in the Nutraceutical, Cosmeceutical and generic pharmaceutical spaces, came into sharp focus among investors yesterday.
The stock ended the day with gains of as much as 6.50% after the company announced that it had completed the necessary due diligence with regards to the acquisition of a leading pharmaceutical company based out of Southern California. It should be noted that the acquisition had been announced in the past by SOHM Inc, however, the news about the completion of the due diligence has come as a major boost for investors.
The Chief Executive Officer and President of the company Baron Night spoke about the development as well. He stated that after the completion of the due diligence, the legal team at SOHM was working on the preparation of the definitive agreement with regards to the acquisition.
He went on to state that the final agreement for the acquisition is going to be signed by the end of the current quarter and that will be consistent with the timeline that had been indicated by SOHM previously. Following the announcement it now remains to be seen if investors continue to flock to the stock this week or not.
