secwatch.observer — SEC 8-K summary
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Issuer:     CareMax, Inc. (—)
CIK:        0001813914
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001193125-22-283690
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CareMax completes acquisition of Steward Value-Based Care for $25M cash and 23.5M shares
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- Closed acquisition of Steward Value-Based Care (SACN, SNCN, SICN) for $25M cash + 23.5M shares of Class A common stock.
- Seller equityholders own ~21% of CareMax common stock post-close; potential earnout could raise to 41% upon 100,000 Medicare lives condition.
- Subsidiaries borrowed $35.5M from CAJ (affiliated with CEO) at 12% interest to fund pre-Closing Medicare AR; loan matures Nov 2023.
- Series A Preferred Stock issued to Seller with 37,241,783 votes on special matters; redeemable after 2 years or earnout issuance.
- Investor Rights Agreement includes lockup (one year), board designation rights for Ralph de la Torre, and voting/standstill restrictions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813914/000119312522283690/0001193125-22-283690-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813914/000119312522283690/d419128d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-283690

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