Life Tech Initiates Second Milestone Payment for Ion Torrent

Jan 24, 2012

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Life Technologies has initiated the second and final milestone payment for Ion Torrent, as determined under the terms of its acquisition of the company in 2010, according to documents filed with the Securities and Exchange Commission last week.

The $300 million milestone, which was achieved during the third quarter of 2011, is due to be paid in a combination of cash and stock this month. According to last week's filing, Life Tech has already issued 2,745,638 shares of common stock to the selling stockholders of Ion Torrent.

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