Regis sells 55.1% stake in EEG for $1, exits cosmetology school operations

REGIS CORP

Sold 55.1% ownership interest in EEG, Inc. for $1.00 cash; no further interest in cosmetology schools.
Concurrently terminated Preferred Salon and Master Supply Agreements with EEG.
Closing occurred on May 2, 2024; all customary conditions satisfied.
No retained liabilities or obligations from the divested business.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REGIS CORP entered into Stock Purchase Agreement with EEG, Inc. and Franklin Schoeneman valued at $1.00 (effective 2024-05-02).

Action: entry
Agreement: equity purchase
Counterparty: EEG, Inc. and Franklin Schoeneman
Value: $1.00
Effective: 2024-05-02

Exact text from the filing

On May 2, 2024, Regis Corporation (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with EEG, Inc. (“EEG”) and Franklin Schoeneman. Pursuant to the Purchase Agreement, at the closing on May 2, 2024, the Company sold to EGG the Company’s entire 55.1% ownership interest in EEG for an aggregate purchase price of $1.00, and no longer has any interest the operation of cosmetology schools.

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Source: SEC EDGAR

accession 0000716643-24-000023

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