Nano-X Imaging Ltd. (NasdaqGM:NNOX) entered into a binding letter of intent to acquire USARAD Holdings Inc. and All of the Assets of MDW, LLC for $30 million on August 10, 2021. Total consideration for USARAD and MDW is $30 million, comprising $21 million of Nanox shares and $9 million in cash. Under the terms of the binding letter of intent, Nanox anticipates purchasing all of the shares of USARAD and all of the assets of its related company Medical Diagnostics Web, or MDW, for a total consideration of $30 million in stock and cash for both companies. Nanox expect to acquire USARAD for total consideration of $27 million, comprised of $18 million of Nanox shares and $9 million in cash. Of the total, $18.5 million of consideration is expected to be paid upon closing, and the remaining $8.5 million is expected to be paid based on the achievement of certain milestones. The remaining $3 million of consideration for MDW will be paid by Nanox shares.