secwatch.observer — SEC 8-K summary
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Issuer:     Rocky Mountain Chocolate Factory, Inc. (RMCF)
CIK:        0001616262
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001437749-23-012585
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RMCF completes sale of U-Swirl frozen yogurt business for $2.75M
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- Sold substantially all U-Swirl assets to U Swirl, LLC (Fosters Freeze affiliate) for $2.75M total consideration.
- $1.75M cash plus $1.0M three-year secured promissory note at 5% year 1, 10% on default.
- RMCF as guarantor agreed to 4-year non-compete in frozen yogurt business.
- Seller to provide transition services for one year post-closing; purchase price subject to working capital adjustment.
- Security and pledge agreements collateralize note; closing occurred May 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1616262/000143774923012585/0001437749-23-012585-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1616262/000143774923012585/rmcfd20230502_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-012585

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