Deluxe closes sale of web hosting business at reduced price of $35.95M

DELUXE CORP

Original purchase price of $42M reduced by $6.05M deferred payment; final price $35.95M.
Transaction closed on June 29, 2023, with HostPapa, Inc. as purchaser.
Sale includes equity interests of certain subsidiaries and assets of Deluxe's web hosting unit.
Amendment executed June 26, 2023; deferred payment removed from consideration.

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

DELUXE CORP amended Stock and Asset Purchase Agreement with HostPapa, Inc. valued at from $42,000,000 to $35,950,000 (effective 2023-06-26).

Action: amendment
Agreement: asset purchase
Counterparty: HostPapa, Inc.
Value: from $42,000,000 to $35,950,000
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, Seller and Purchaser entered into an amendment to the Sale Agreement to reduce the base purchase price for the transaction from $42,000,000 to $35,950,000 by removing a $6,050,000 post-closing deferred payment that would have been payable to Seller 365 days after the closing date.

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DELUXE CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-077164

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