Mesa Laboratories, Inc. (NasdaqGS:MLAB) entered into a definitive agreement to acquire Beijing GKE Science & Technology Co. LTD for ?5 million on October 14, 2023. The total purchase price for the acquisition of the entity along with other 2 entities is ?85 million, subject to customary purchase price adjustments and holdbacks.

Collectively the three entities are referred to as ?GKE?. ?5 million of the acquisition price, net of cash and debt and subject to customary adjustments will be paid to the sellers upon satisfaction of applicable Chinese regulatory approvals. The transactions were funded through a combination of cash on-hand and $65 million (?61.633 million) borrowed under line of credit.

The transaction is expected to be completed during our third quarter ending December 31, 2023.