secwatch.observer — SEC 8-K summary
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Issuer:     Maison Solutions Inc. (MSS)
CIK:        0001892292
Form:       8-K
Filed at:   2024-04-10T23:59:59+00:00
Accession:  0001213900-24-031894
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Maison Solutions acquires Lee Lee for $22.2M, doubling revenue with 3 stores
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- AZLL purchased 100% of Lee Lee for ~$22.2M; $7M cash at closing on April 8, 2024.
- Secured note of ~$15.2M at 5% interest; aggressive repayment schedule ending Feb 2025.
- Acquisition expected to add ~$70M annual revenue, more than doubling Maison's current size.
- Phoenix (Chandler, Peoria) and Tucson stores added; three locations total.
- CEO John Xu and spouse personally guarantee the secured note; collateral includes all Lee Lee assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892292/000121390024031894/0001213900-24-031894-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892292/000121390024031894/ea0203641-8k_maison.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-031894

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer