Holliston-based Harvard Bioscience has spun off part of its business, which makes regenerative medical devices, the company announced.
The spinoff will be called Harvard Apparatus Regenerative Technology Inc. (HART). To implement the transaction, Harvard Bioscience will distribute all its shares of HART common stock to Harvard Bioscience shareholders as of the close of business on Oct. 21. Each shareholder will receive one share of HART stock for every four shares of Harvard Bioscience stock, the company said. The distribution will take effect Nov. 1.
As a result of the spinoff, Harvard Bioscience will no longer own HART shares, and HART will be an independent public company.
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