secwatch.observer — SEC 8-K summary
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Issuer:     SMART FOR LIFE, INC. (—)
CIK:        0001851860
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001213900-24-009733
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smart for Life sells three subsidiaries to First Health FL for $3.49M; debt restructured
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- Smart for Life sold all assets of Ceautamed Worldwide, Wellness Watchers, and Greens First to First Health FL LLC for total consideration of $3,486,233.
- Purchase price includes $210,994 paid to creditors and $3,275,239 in assumed liabilities, including debt under the Hayes Amortizing Note.
- Buyer is 51% owned by affiliates and 49% by Smart for Life; Buyer has option to purchase remaining 49% for nominal consideration.
- Note purchase agreement amended: principal $2,751,233 at 13% interest, maturity Jan 2026, with semi-annual principal reduction payments of $50,000.
- Certain notes to RMB Industries ($967,500) and RTB Childrens Trust ($107,500) were forgiven and cancelled in connection with the sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851860/000121390024009733/0001213900-24-009733-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851860/000121390024009733/ea192666-8k_smartfor.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-009733

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