Stran & Company, Inc. (SWAG): M&A transaction — Stran provides pro forma financials for Gander Group acquisition; combined H1 2024 rev $60.4M

Stran & Company, Inc.

Unaudited pro forma revenue for six months ended June 30, 2024: $60.4M (Stran $35.5M + Gander $24.9M).
Pro forma net income for H1 2024: $1.2M vs Stran standalone net loss of $1.5M.
For FY2023, pro forma net loss: $542K vs Stran standalone net loss $385K.
Total purchase consideration: $1.5M ($1.1M cash to secured party + $370K to Bangarang).
Acquisition-related transaction costs of $435K incurred after June 30, 2024 reflected as pro forma adjustment.

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

Stran & Company, Inc. completed an acquisition involving Sallyport Commercial Finance, LLC (as Secured Party for Bangarang Enterprises, LLC) for cash payments of $1,098,800 and assumption of certain liabilities totaling approximately $5.5 million (closed 2024-08-23).

Action: acquisition
Counterparty: Sallyport Commercial Finance, LLC (as Secured Party for Bangarang Enterprises, LLC)
Consideration: cash payments of $1,098,800 and assumption of certain liabilities totaling approximately $5.5 million
Closing: 2024-08-23

Exact text from the filing

(the “Bangarang Transaction”). Under the Sale Agreement, the aggregate consideration for the Bangarang Assets consisted of (a) cash payments by the Purchaser to Secured Party of $1,098,800 (the “Cash Purchase Price”), and (b) the assumption by the Purchaser of certain liabilities totaling approximately $5.5 million (the “Assumed Liabilities”), subject to

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Stran & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-029436

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