SMART FOR LIFE, INC.: M&A transaction — Smart for Life signs $2.5M acquisition of Hyperion/OPM; sells 49% interest for $1

SMART FOR LIFE, INC.

Acquired Hyperion, L.L.C. and Online Publishing & Marketing, LLC for $2.5M aggregate purchase price, subject to debt-free condition at closing.
Affiliates of First Health FL LLC exercised option to acquire Company's remaining 49% interest in Buyer for $1.00, effective Oct 2, 2024.
Pro forma for the disposition shows 2023 revenue reduced from $8.2M to $5.0M and net loss increased from $22.7M to $26.3M.
Company's common stock delisted from Nasdaq; now quoted on OTC Pink under symbol SMFL.

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

SMART FOR LIFE, INC. completed a disposition involving First Health FL LLC for Option price of $1.00 (closed 2024-10-01).

Action: disposition
Counterparty: First Health FL LLC
Consideration: Option price of $1.00
Closing: 2024-10-01

Exact text from the filing

On October 1, 2024, such affiliates of the Buyer elected to exercise the Option, effective as of October 2, 2024, paid to the Company the Option price of $1.00, and the Company delivered the remaining 49% interest in the Buyer to such affiliates (the “ Disposition ”).

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Source: SEC EDGAR

accession 0001213900-24-085611

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