Everything Blockchain, Inc. (EBZT): M&A transaction — Everything Blockchain sells Mercury subsidiary to founder Chris Carter for $216,583

Everything Blockchain, Inc.

Completed sale of wholly owned subsidiary Mercury, Inc. to its founder/CEO Chris Carter on Oct 31, 2023.
Consideration: 115,000 shares of common stock ($1.19/share) and 60,000 Series C preferred shares ($1.33/share) owned by Carter.
Total purchase price of $216,583 based on estimated net assets of Mercury.
Agreement includes provision that any Employee Retention Credit refund received by Mercury must be forwarded to Everything Blockchain.

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

Everything Blockchain, Inc. completed a disposition involving Chris Carter for 115,000 shares of Company common stock and 60,000 shares of Company Series C Preferred Stock, owned by Chris Carter, for a total sales price of $216,583 (closed 2023-10-31).

Action: disposition
Counterparty: Chris Carter
Consideration: 115,000 shares of Company common stock and 60,000 shares of Company Series C Preferred Stock, owned by Chris Carter, for a total sales price of $216,583
Closing: 2023-10-31

Exact text from the filing

2023, the Board of Directors approved, and the Company completed, the sale of Mercury, Inc. (“Mercury”) to Chris Carter, founder and CEO of Mercury. The sales price consisted of 115,000 shares of Company common stock and 60,000 shares of Company Series C Preferred Stock, owned by Chris Carter, for a total sales price of $216,583. The sales price was primarily

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Source: SEC EDGAR

accession 0001477932-23-008104

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