iCoreConnect Inc.: M&A transaction — iCoreConnect buys dental billing firm Preferred Dental Development for $1.6M

iCoreConnect Inc.

Acquired assets for $1,200,000 cash plus $400,000 in stock (40,000 shares at $10.00 per share).
Seller Preferred Dental Development provides dental billing and claims services.
Shares issued under Section 4(a)(2) exemption; no registration required.
Transaction closed September 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

iCoreConnect Inc. completed an acquisition involving Preferred Dental Development, LLC for $1,200,000 in cash, and $400,000 worth of shares of Company common stock at $10.00 per share totaling 40,000 shares (closed 2023-09-01).

Action: acquisition
Counterparty: Preferred Dental Development, LLC
Consideration: $1,200,000 in cash, and $400,000 worth of shares of Company common stock at $10.00 per share totaling 40,000 shares
Closing: 2023-09-01

Exact text from the filing

to the Agreement, the Company purchased the assets of the Seller utilized in the Seller’s business. As consideration for the acquired assets: (i) the Company paid to Seller $1,200,000 in cash, and (ii) the Company agreed to issue to Seller $400,000 worth of shares of Company common stock at $10.00 per share totaling 40,000 shares. The shares of Company common

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Source: SEC EDGAR

accession 0001477932-23-006728

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