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TEL AVIV – PainReform Ltd. (NASDAQ:PRFX), a clinical-stage specialty pharmaceutical company, has announced the acquisition of DeepSolar, a solar analytics platform utilizing artificial intelligence (AI), from BladeRanger Ltd. (TASE:BLRN). BladeRanger’s stock has shown recent momentum with a 4.57% gain over the past week, trading at $1.96. The transaction is expected to close by the end of February 2025, subject to customary closing conditions.
DeepSolar provides AI-driven analytics to optimize the efficiency and profitability of solar energy assets for both utility-scale operators and individual homeowners. Its technology integrates with existing systems to offer real-time monitoring and automated maintenance solutions, which can reduce operational costs by up to 30% and maximize energy production. According to InvestingPro analysis, BladeRanger has been facing challenges with cash burn and weak gross profit margins, making this strategic sale particularly significant for the company’s future.
The acquisition will see PainReform, traditionally focused on drug delivery technologies for pain treatment, enter the renewable energy sector. Ehud Geller, Chairman of PainReform, expressed enthusiasm for the strategic move, highlighting the growth potential in the high-margin solar energy market. The company aims to leverage DeepSolar’s advanced software to create value for its shareholders while continuing to advance its pharmaceutical technologies.
Under the terms of the agreement, BladeRanger will receive a combination of ordinary shares and various warrants in PainReform, with certain restrictions to prevent BladeRanger from exceeding a 9.99% ownership post-transaction. Additionally, specific BLRN employees will enter into employment agreements with PainReform.
The global residential solar market, valued at $94.2 billion in 2024, is expected to grow steadily, providing a significant opportunity for DeepSolar’s technology and services. PainReform’s existing management and operations will remain intact, ensuring continuity while exploring the potential of this new venture.
This move by PainReform represents a notable cross-industry acquisition, as the company seeks to diversify its portfolio and capitalize on the rapidly expanding solar energy market. Details of the transaction are disclosed in the company’s Form 6-K filed with the Securities and Exchange Commission. For deeper insights into companies undergoing strategic transitions like this one, InvestingPro subscribers have access to over 10 additional financial health indicators and exclusive ProTips that can help evaluate such corporate developments.
This article is based on a press release statement from PainReform Ltd.
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