Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Enservco Corp entered into Membership Interest Purchase Agreement with Tony Sims, Jim Fate, Buckshot Trucking LLC valued at $5,000,000 (the "Base Amount"), subject to a net working capital adjustment, plus up to $500,000, in (effective 2024-03-19).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Tony Sims, Jim Fate, Buckshot Trucking LLC
- Value
- $5,000,000 (the "Base Amount"), subject to a net working capital adjustment, plus up to $500,000, in
- Effective
- 2024-03-19
Exact text from the filing
On March 19, 2024, Enservco Corporation (“Enservco”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Tony Sims, an individual resident of Colorado; Jim Fate, an individual resident of Colorado (together the “Sellers”), and Buckshot Trucking LLC, a Wyoming limited liability company (“Buckshot Trucking”), pursuant to which Enservco agreed to acquire from the Sellers all of the issued and outstanding membership interests of Buckshot Trucking (the “Acquisition”) for $5,000,000 (the “Base Amount”), subject to a net working capital adjustment, plus up to $500,000, in the form of Enservco common stock, contingent upon satisfaction of certain conditions set forth in the Purchase Agreement.
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