INNOVATIVE FOOD HOLDINGS INC (IVFH): M&A transaction — Innovative Food Holdings sells Bonita Springs warehouse for $2.455M, netting ~$1.9M

INNOVATIVE FOOD HOLDINGS INC

Closed Feb 14, 2024; sold warehouse to Tag Media Group (Gulf Coast Aluminum) for $2,455,000; net proceeds ~$1.9M.
Property includes 1.1 acres and ~10,000 sq ft of office/warehouse space, plus racking and a forklift.
Purchase agreement was signed Dec 12, 2023; transaction completed with customary closing costs.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

INNOVATIVE FOOD HOLDINGS INC completed a disposition involving Tag Media Group LLC, dba "Gulf Coast Aluminum" for total purchase price of $2,455,000.00, prior to customary closing costs (closed 2024-02-14).

Action: disposition
Counterparty: Tag Media Group LLC, dba "Gulf Coast Aluminum"
Consideration: total purchase price of $2,455,000.00, prior to customary closing costs
Closing: 2024-02-14

Exact text from the filing

12, 2023 (the “ Purchase Agreement ”), the Company agreed to sell the Warehouse, certain warehouse racking, and a forklift to Gulf Coast Aluminum for a total purchase price of $2,455,000.00, prior to customary closing costs. The Company received approximately $1.9 million in net proceeds from the transaction. The Purchase Agreement contains customary

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Source: SEC EDGAR

accession 0001185185-24-000174

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