---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-23-001126"
form_type: "8-K"
ticker: "TRNS"
cik: "0000099302"
company_name: "TRANSCAT INC"
filed_at: "2023-09-12T23:59:59+00:00"
generated_at: "2026-06-10T21:35:09.428399+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Transcat amends NEXA earn-out, expects $3.7-4.5M charge in Sep quarter

## Summary
- Amended earn-out: up to $7.125M (from $7.5M) for 2023-2025 based solely on EBITDA targets.
- Total earn-out obligation estimated at $3.7M to $4.5M; one-time expense of same amount in Q2 FY24.
- One-time net income reduction of $2.7M to $3.4M for quarter ending September 23, 2023.
- EBITDA definition expanded to include SteriQual (from July 2023) and CQV businesses.
- No earn-out payable for 2022; maximum payout if EBITDA reaches 150% of target.

## SEC filing metadata
- accession: 0001206774-23-001126
- form_type: 8-K
- ticker: TRNS
- cik: 0000099302
- company_name: TRANSCAT INC
- filed_at: 2023-09-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/99302/000120677423001126/0001206774-23-001126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/99302/000120677423001126/trns4240741-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-23-001126
- JSON: https://secwatch.observer/filing/0001206774-23-001126.json
- Plain text: https://secwatch.observer/filing/0001206774-23-001126.txt

## Key facts
- Material Agreements
  TRANSCAT INC amended Amendment with John Cummins and Ross Lane valued at up to $7,125,000 (effective 2023-09-11).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: John Cummins and Ross Lane
  - Value: up to $7,125,000
  - Effective: 2023-09-11
  source text: On September 11, 2023, Transcat, Inc. (the “Company”) entered into an amendment (the “Amendment”) to a Share Purchase Agreement dated August 31, 2021 (the “Purchase Agreement”) with John Cummins and Ross Lane (the “Sellers”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/99302/000120677423001126/0001206774-23-001126-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.