OLD MARKET CAPITAL Corp (OMCC): M&A transaction — NICK acquires 56.5% of Amplex Electric for $37.5M cash; enters CEO agreements

OLD MARKET CAPITAL Corp

Acquired 56.5% stake in Amplex Electric, an Ohio rural broadband provider, for $37.5M in cash.
Amplex has over 9,100 fixed wireless customers, 9,000 fiber passings, and 3,500 fiber customers.
CEO Mark Radabaugh retains 43.5% and will continue to lead; receives $170K salary and severance of 6 months.
NICK has call option to acquire up to 80% of Radabaugh's remaining equity starting year 2; Radabaugh put option starting year 5.
Acquisition funded from available cash on hand; financial statements to be filed by amendment within 71 days.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OLD MARKET CAPITAL Corp completed an acquisition involving Mark R. Radabaugh, Dale B. Beckmann and Amplex Electric, Inc. for $37,500,000 (closed 2024-06-15).

Action: acquisition
Counterparty: Mark R. Radabaugh, Dale B. Beckmann and Amplex Electric, Inc.
Consideration: $37,500,000
Closing: 2024-06-15

Exact text from the filing

approximately 56.5% of Amplex with Mr. Radabaugh retaining the remaining 43.5% interest. The purchase price was paid in cash. The base purchase price of the Acquisition was $37,500,000, subject to adjustment in accordance with the terms of the Share Purchase Agreement. The transaction was fully funded with the Company’s available cash on hand. The Share Purchase

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78 m&a transactions filed in the last 30 days. Browse all m&a transactions →

OLD MARKET CAPITAL Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-075993

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