Aetrium Inc. (NasdaqCM:ATRM) acquired substantially all of the assets of KBS Building Systems, Inc. from Robert H. Farnham, Jr. for $11.9 million on April 2, 2014. Under the terms of the agreement, Aetrium Incorporated paid $5 million in cash, $5.5 million six-month promissory note made by a wholly-owned subsidiary of Aetrium, the assumption and payoff of approximately $1.4 million in debt and the assumption of certain other liabilities related to the purchased assets. The acquisition was financed by $6.5 million in loans ($0.5 million of which is convertible into Aetrium common stock) from Lone Star Value Investors, LP, an investment fund managed by Jeffrey E. Eberwein, Chairman of the Board of Directors of Aetrium.

Oberon Securities, LLC acted as financial advisor and Adam W Finerman, Esq. of Olshan Frome Wolosky LLP acted as legal advisor for Aetrium. C. Wesley Crowell, Esq. of Bergen & Parkinson, LLC acted as legal advisor for KBS Building Systems. Oberon Securities, LLC was paid a fee of $0.5 million.

Aetrium Inc. (NasdaqCM:ATRM) completed the acquisition of substantially all of the assets of KBS Building Systems, Inc. on April 2, 2014.