Sirio Pharma Co., Ltd. (SZSE:300791) agreed to acquire 80% stake in Ultimate Formulations, Inc. from m Eugene C. Ung, Kelly C. Ung, Charles C. Ung, Peak Trust Company-NV, Jeffrey A. Goh, and Joy S. Hsu on July 6, 2022. Best's City of Industry complex will serve as Sirio's North American headquarters after the transaction is completed. Ultimate Formulations, Inc. recorded Total Assets of $66.1 million, Total Liabilities of $45 million, Net Assets of $21.1 million, Revenue of $121 million and Net Profit $13.5 for the year ended December 31, 2021. Deal is subject to Sirio Pharma's shareholders, board approval and China's overseas investment relevant competent authorities' filing, and U.S. antitrust review. As of July 6, 2022 Sirio Pharma Co., Ltd board approved the deal. The transaction is expected to close in Fall of 2022. Jefferies Financial Group Inc. (NYSE:JEF) acted as financial advisor to Ultimate Formulations, Inc. and Sonenshine Partners acted as financial advisor to Sirio Pharma Co., Ltd. on August 12, 2022 US antitrust filings involved in this transaction have been approved. Eric Fahr of BDO USA, LLP acted as financial and tax due diligence provider to Sirio Pharma, Co., Ltd. Morgan, Lewis & Bockius LLP acted as legal advisor to Best Formulations Inc.

Sirio Pharma Co., Ltd. (SZSE:300791) completed the acquisition of 80% stake in Best Formulations Inc. from m Eugene C. Ung, Kelly C. Ung, Charles C. Ung, Peak Trust Company-NV, Jeffrey A. Goh, and Joy S. Hsu on October 17, 2022. Howard Zhang, Miranda So, Kara L. Mungovan and Veronica M. Wissel of Davis Polk & Wardwell LLP acted as legal advisor to Sirio Pharma Co., Ltd.