The total $20M earn out is based on target revenue growth increases over 2 calendar years; as well as the achievement of FDA approvals in at least 1 of 3 additional Imbio products. This total would only be payable if all 3 earn out targets are achieved. And these will be settled in shares based on the VWAP at the relevant future times (when SP is likely to be much higher) if achieved.
Noting also high revenue growth rate for Imbio at 112% per year currently.
Ann: Investor Presentation Imbio acquisition and capital raise, page-20
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