---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-011944"
form_type: "8-K"
ticker: "BOC"
cik: "0001494582"
company_name: "BOSTON OMAHA Corp"
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:54:44.356907+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Boston Omaha subsidiary acquires remaining 52% of 24th Street Asset Management for $5.0M

## Summary
- BOAM paid $2.76M cash, $1.25M holdback, and 45,644 BOC shares; aggregate price $5.02M.
- Brendan Keating, BOC director and co-MD of BOAM, owned 92% of the sold interests; Audit Committee approved.
- 24th Street had ~$123M AUM as of 12/31/2022; renamed Boston Omaha Commercial Real Estate.
- Earn-out: sellers get 25% of Net Promote Amount above $9.64M until funds liquidated.
- BOAM now manages two verticals: commercial real estate and purpose-built residential (BFR fund).

## SEC filing metadata
- accession: 0001437749-23-011944
- form_type: 8-K
- ticker: BOC
- cik: 0001494582
- company_name: BOSTON OMAHA Corp
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1494582/000143774923011944/0001437749-23-011944-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494582/000143774923011944/bomn20230428_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-011944
- JSON: https://secwatch.observer/filing/0001437749-23-011944.json
- Plain text: https://secwatch.observer/filing/0001437749-23-011944.txt

## Key facts
- Material Agreements
  BOSTON OMAHA Corp entered into "MIPA" with the Sellers valued at $5,016,494.00 (effective 2023-05-01).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: the Sellers
  - Value: $5,016,494.00
  - Effective: 2023-05-01
  source text: ties (including 24 th Street Fund I, LLC and 24 th Street Fund II, LLC, collectively, the “ Funds ”), minus certain compensation bonuses payable (such net amount, the “ Net Promote Amount ”), that exceed $7,226,672.00 but are less than equal to $9,635,562.00, the Sellers will receive, as a release from the Holdback Amount, 52.062% of such excess, such that if the Net Promote Amount equals $9,635,562.00 (the “ Earn-Out Threshold ”), the full Holdback Amount will have been released to the Sellers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1494582/000143774923011944/0001437749-23-011944-index.htm

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