NextPlat acquires Outfitter Satellite for $760K; expects to more than double NA tech e-commerce sales

NextPlat Corp

Total purchase price $760K all-cash; $660K at closing, $100K upon delivery of audited FY2022/23 statements.
Acquisition expected to close on April 1, 2024; Outfitter based in Nashville, provides satellite connectivity.
NextPlat says deal is accretive, will more than double North American technology e-commerce product sales and recurring revenue.
Company plans to integrate Outfitter onto global e-commerce platform, expand product offerings and enter international markets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NextPlat Corp entered into Stock Purchase Agreement with James T. McKinley valued at $760,000.00 (effective 2024-03-25).

Action: entry
Agreement: equity purchase
Counterparty: James T. McKinley
Value: $760,000.00
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, NextPlat Corp (NASDAQ: NXPL, NXPLW) (the “Company” or “NextPlat”) entered into a Stock Purchase Agreement (the “SPA”) with James T. McKinley (“Seller”), pursuant to which the Company agreed to purchase all of the issued and outstanding shares of common stock of Outfitter Satellite, Inc. (“Outfitter”) in an all-cash transaction (the “Acquisition”) for an aggregate purchase price of $760,000.00

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Source: SEC EDGAR

accession 0001437749-24-010009

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