Grapefruit USA, Inc. (OTCPK:GPFT) updated its announcement regarding the proposed acquisition of Diagnostic Lab Corporation, Inc. of Englewood Cliffs, New Jersey, as well as the proposed recapitalization of the company.
On Aug. 18, 2022, the company announced it was “finalizing its due diligence on DLC and is in the final stages of negotiating the terms of its anticipated financing and structuring the transaction documents, all of which it expects to complete in the next several weeks.” The company further reported on Nov. 21, 2022, that “due to current general market and economic conditions, the anticipated transaction and financing process is active and continuing with all terms and conditions of financing and structure expected within the next 30 days.” The company updated its guidance and …