secwatch.observer — SEC 8-K summary
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Issuer:     Stran & Company, Inc. (SWAG)
CIK:        0001872525
Form:       8-K/A
Filed at:   2023-08-17T23:59:59+00:00
Accession:  0001213900-23-068555
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 9.01, 2.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Stran completes T R Miller asset purchase for $2.15M cash plus earn-out; T R Miller FY2022 sales $20.4M
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- Total cash at closing $2,154,230, comprising $1M base price plus $1,123,072 working capital adjustment.
- Deferred payments: $400K yr1, $300K yr2, $200K yr3 & yr4; earn-out: 45% of annual gross profit above $4M from certain customers.
- T R Miller year ended June 2022: revenue $20.37M, net earnings $976K, total assets $6.65M, cash $2.07M.
- Leased warehouse from Miller Family Walpole LLC for 5 years at $179,550 initial annual rent with 2% escalator.
- Entered 3-year consulting agreement with Thomas Miller and employment agreement with Stacy Miller.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1872525/000121390023068555/0001213900-23-068555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1872525/000121390023068555/ea183778-8ka1_stranandco.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-068555

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