---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-116968"
form_type: "8-K"
ticker: "CAPS"
cik: "0000887151"
company_name: "Capstone Holding Corp."
filed_at: "2025-12-02T23:59:59+00:00"
generated_at: "2026-05-16T15:49:06.988973+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Capstone closes Canadian Stone acquisition, adding $15M revenue and boosting run-rate toward $100M

## Summary
- Acquisition closed Dec 1, 2025; consideration includes C$6.2M cash, C$3.6M in promissory notes, and up to C$3M earn-out.
- Canadian Stone Industries has ~$15M annual revenue; expected immediately accretive to EBITDA.
- Capstone reaffirms $100M run-rate revenue target for early 2026; has added $26M acquired revenue in H2 2025.
- Transaction expands Capstone's 32-state footprint and premium brand portfolio.

## SEC filing metadata
- accession: 0001213900-25-116968
- form_type: 8-K
- ticker: CAPS
- cik: 0000887151
- company_name: Capstone Holding Corp.
- filed_at: 2025-12-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/0001213900-25-116968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/ea0268048-8k_capstone.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-116968
- JSON: https://secwatch.observer/filing/0001213900-25-116968.json
- Plain text: https://secwatch.observer/filing/0001213900-25-116968.txt

## Source-grounded claims
- claim_id: 1c7eac299e9c1a4a039c45813f0db74ed303f5ea
  claim: Capstone Holding Corp. incurred guarantee with seller.
  evidence_excerpt: the Company entered into a guaranty agreement (the “ Guaranty Agreement ”) in favor of the seller in connection with the First SPA Note issued under the Share Purchase Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/0001213900-25-116968-index.htm
- claim_id: 6ed9cba64e1362b303457b93ba152b6665b130a8
  claim: Capstone Holding Corp. incurred loan of C$2,000,000 (approximately $1,434,412) with Dream Family Holdings Ltd, Robert Jahnsen, The Jeffery Leech Family Trust, Jeffery Leech, Wendy Chiavacci, Michael Siemens, Nathan Thompson, Curt Trierweiler at 30-day average SOFR plus an applicable margin that is (i) 1.25% through November maturing December 1, 2028.
  evidence_excerpt: (3) a promissory note in the principal amount of C$2,000,000 (approximately $1,434,412) (the “ Second SPA Note ”), payable in equal installments of C$50,000 on the last day of each of March, June, September, and December, commencing on March 31, 2027, with a maturity date of December 1, 2028 and the interest at a per annum rate equal to 30-day average SOFR plus an applicable margin
  evidence_url: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/0001213900-25-116968-index.htm
- claim_id: 6fbc8a26806c837244262ed110b7b99871d9b86a
  claim: Capstone Holding Corp. incurred loan of C$1,600,000 (approximately $1,147,529) with Dream Family Holdings Ltd, Robert Jahnsen, The Jeffery Leech Family Trust, Jeffery Leech, Wendy Chiavacci, Michael Siemens, Nathan Thompson, Curt Trierweiler at TD Bank’s prime rate plus 1.00% through November 30, 2026, and at TD Bank’s prim maturing March 31, 2027.
  evidence_excerpt: (2) a promissory note in the principal amount of C$1,600,000 (approximately $1,147,529) (the “ First SPA Note ”), payable in the amount of C$400,000 on July 31, 2026 and C$400,000 on October 31, 2026, with a maturity date of March 31, 2027 and the interest at TD Bank’s prime rate plus 1.00% through November 30, 2026, and at TD Bank’s prime rate plus 3.00% from December 1, 2026 onward
  evidence_url: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/0001213900-25-116968-index.htm
- claim_id: c12c1c39d60c78f8e526dcc7e0794fc8eb5277d6
  claim: Capstone Holding Corp. completed an acquisition involving Fraser Canyon Holdings Inc. for C$6,200,000 in cash (approximately $4,446,676 at an exchange rate of US$1.00 = C$1.3943) plus a promissory note and earn-out potential (closed 2025-11-30).
  evidence_excerpt: On December 1, 2025, Capstone Holding Corp. (the " Company ") closed the acquisition (the " Acquisition ") of Fraser Canyon Holdings Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887151/000121390025116968/0001213900-25-116968-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.