Lime Energy Co. Completes Merger with Advanced Biotherapy, Inc.

Lime Energy Co. completed the merger of its wholly owned subsidiary with Advanced Biotherapy, Inc. (ADVB), acquiring approximately $7.4 million in cash and other assets. The transaction was viewed as a cost-effective way to raise capital, and ADVB has ceased to exist.

“Lime Energy Co. (NASDAQ: LIME) announced the completion of the merger of its wholly owned subsidiary with Advanced Biotherapy, Inc. (“ADVB”) whose assets include approximately $7.4 million of cash, an $800,000 note receivable and Lime’s Revolving Credit Note, which had an outstanding balance of approximately $52,000 as of the closing.”

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