Earth Science Tech, Inc. completed the acquisition of Avenvi, LLC, a Florida limited liability company, on October 1, 2024. The transaction was valued at $1,058,788.30 in cash, with an upfront payment of $258,788.30 at closing and subsequent monthly payments of $200,000 for four months. This acquisition includes approximately four acres of vacant residential real estate intended for development, one commercial property with a 5,000 square foot standalone building, and cash or cash equivalents held by Avenvi.
On the same date, Earth Science Tech also completed the acquisition of Mister Meds, LLC, a Texas limited liability company, for $54,200 in cash. Mister Meds is a compounding pharmacy that will expand ETST's operational footprint in the healthcare sector. Both acquisitions were reviewed and approved by the Board of Directors, despite involving related parties, to ensure terms were no less favorable than those obtainable from unaffiliated third parties.
The acquisition of Avenvi diversifies ETST's portfolio into real estate development and asset management, providing infrastructure and managing corporate investment activities. The addition of Mister Meds strengthens the company's core pharmaceutical compounding business, aiming to leverage synergies with its telemedicine platforms. These strategic moves underscore ETST's pivot towards creating shareholder value through the acquisition and optimization of diverse operating businesses.
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