Samsara Luggage, Inc.: M&A transaction — Samsara Luggage acquires seven emergency-response companies from majority owner ILUS for Series B shares

Samsara Luggage, Inc.

Acquired Firebug, Georgia Fire & Rescue, Bright Concept, Bull Head Products, E-Raptor, The Vehicle Converters, and AL Shola from ILUS.
Consideration: 350,000 restricted Series B shares; ILUS voting stake rises from 71.1% to 89.1%.
Pro forma combined 2023 revenue: $6.95M; net loss: $970k (Samsara standalone revenue was $361k).
Related-party transaction; no customary representations or warranties from either party.
Additional milestone payments possible if performance targets (Exhibit B) are met; audited pro forma financials provided.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Samsara Luggage, Inc. completed an acquisition involving Ilustrato Pictures International, Inc. for 350,000 restricted shares of Series B stock (closed 2024-02-23).

Action: acquisition
Counterparty: Ilustrato Pictures International, Inc.
Consideration: 350,000 restricted shares of Series B stock
Closing: 2024-02-23

Exact text from the filing

by ILUS as the Emergency Response Technologies “ERT. The consideration for the sale of the equity interests in the foregoing companies was paid by the Company by issuing to ILUS 350,000 restricted shares of Series B stock (the “Shares”) and further milestone payment/s should applicable performance targets referenced in Exhibit B be achieved. As a result, ILUS

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Source: SEC EDGAR

accession 0001213900-24-039539

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