secwatch.observer — SEC 8-K summary
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Issuer:     KINGSWAY FINANCIAL SERVICES INC (KFS)
CIK:        0001072627
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001437749-22-025459
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kingsway acquires CSuite Financial Partners for $8.5M cash plus up to $3.55M earnout
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- Purchase price $8.5M cash (subject to adjustments), plus up to $3.55M earnout over 3 years based on gross profit targets.
- CSuite had $9.4M unaudited revenue, $0.9M GAAP income before tax, $1.8M adjusted EBITDA for TTM ending July 31, 2022.
- Expected to be immediately accretive; will be run alongside Ravix as a one-stop shop for financial services.
- Second acquisition under Kingsway Search Xcelerator Program; paid with cash on hand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1072627/000143774922025459/0001437749-22-025459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1072627/000143774922025459/kfs20221101_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-025459

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