SmartRent selects ADI Global as preferred distribution partner to lower inventory and improve cash

SmartRent, Inc.

ADI will serve as non-exclusive hardware fulfillment partner across US, Canada, Puerto Rico under 3-year initial term.
SmartRent expects reduced cash investment in inventory and improved cash balances over time.
ADI previously supplied over 100,000 Resideo thermostats per year; agreement expands across full product line.
Partnership aims to streamline inventory management and enhance product availability for 500+ rental housing customers.
CEO Lucas Haldeman states demand remains robust and ADI will help meet customer needs while prioritizing innovation.

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

SmartRent, Inc. entered into Product Sales Agreement with Ademco Inc., doing business as ADI Global Distribution (effective 2023-08-03).

Action: entry
Agreement: supply
Counterparty: Ademco Inc., doing business as ADI Global Distribution
Effective: 2023-08-03

Exact text from the filing

On August 3, 2023, SmartRent Technologies, Inc. (the “ Company ”) entered into a Product Sales Agreement (the “ Agreement ”) with Ademco Inc., doing business as ADI Global Distribution (“ ADI ”), pursuant to which, ADI will serve as the Company’s non-exclusive hardware fulfillment partner throughout the United States, Canada and Puerto Rico.

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SmartRent, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-039384

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