---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-24-006112"
form_type: "8-K"
ticker: null
cik: "0001906133"
company_name: "iCoreConnect Inc."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:51:08.158297+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# iCoreConnect divests MSP Division to The 20 LLC for $2.02M plus earnout

## Summary
- Sold MSP Division assets and customer contracts for ~$2.02M (base price) less transaction expenses.
- Earnout potential up to $224,334 if ARR exceeds $1.62M in the 3-month period beginning April 1, 2025.
- Proceeds will be used to reduce debt and reinvest in core SaaS business, which operates at higher margins.
- Divestiture aligns with strategy to streamline operations and focus on cloud-based software and healthcare platform.
- Sale closed on October 1, 2024; Purchaser is The 20 LLC (T20).

## SEC filing metadata
- accession: 0001477932-24-006112
- form_type: 8-K
- cik: 0001906133
- company_name: iCoreConnect Inc.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1906133/000147793224006112/0001477932-24-006112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1906133/000147793224006112/icct_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-24-006112
- JSON: https://secwatch.observer/filing/0001477932-24-006112.json
- Plain text: https://secwatch.observer/filing/0001477932-24-006112.txt

## Key facts
- M&A Transactions
  iCoreConnect Inc. completed a disposition involving The 20 LLC for approximately $2.02 million (closed 2024-10-01).
  - Action: disposition
  - Counterparty: The 20 LLC
  - Consideration: approximately $2.02 million
  - Closing: 2024-10-01
  source text: On October 1, 2024 (the “Closing Date” or “Closing”), iCoreConnect Inc. (the “Company”), iCore MidCo Inc., a subsidiary of the Company (the “Seller”), and The 20 LLC (the “Purchaser”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) pursuant to which the Seller sold the assets and customer contracts of our Managed Service Provider (MSP) Division (the “Transaction”) to the Purchaser for approximately $2.02 million (less transaction expenses) (the “Base Purchase Price”), plus the right to receive an Earnout Payment (as discussed below) upon the retention of certain revenue thresholds.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224006112/0001477932-24-006112-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.