---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-001034"
form_type: "8-K"
ticker: "TLSS"
cik: "0001463208"
company_name: "Transportation & Logistics Systems, Inc."
filed_at: "2023-01-10T23:59:59+00:00"
generated_at: "2026-06-20T17:03:09.978493+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TLSS subsidiary agrees to acquire Severance Trucking for $2.25M cash

## Summary
- Purchase price of $2.25M cash, subject to adjustment for assumed debt and working capital.
- Closing expected by Jan 31, 2023; subject to due diligence, financing, and landlord consents.
- Severance operates LTL trucking in New England, Upstate NY, Canada; over 100 years in business.
- Sellers are individuals Kathryn Boyd, Clyde Severance, Robert Severance; no affiliation with TLSS.
- Transaction structured as stock purchase; certain assets and liabilities excluded from deal.

## SEC filing metadata
- accession: 0001493152-23-001034
- form_type: 8-K
- ticker: TLSS
- cik: 0001463208
- company_name: Transportation & Logistics Systems, Inc.
- filed_at: 2023-01-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463208/000149315223001034/0001493152-23-001034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463208/000149315223001034/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-001034
- JSON: https://secwatch.observer/filing/0001493152-23-001034.json
- Plain text: https://secwatch.observer/filing/0001493152-23-001034.txt

## Key facts
- Material Agreements
  Transportation & Logistics Systems, Inc. entered into SPA with Kathryn Boyd, Clyde Severance, and Robert Severance valued at $2,250,000 (effective 2023-01-04).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Kathryn Boyd, Clyde Severance, and Robert Severance
  - Value: $2,250,000
  - Effective: 2023-01-04
  source text: on January 4, 2023, its wholly-owned subsidiary, TLSS Acquisition, Inc. (the “Acquisition Sub”), entered into a stock purchase agreement (“SPA”) to acquire all of the outstanding stock of Massachusetts-based Severance Trucking, Inc., and certain affiliated warehousing and vehicle leasing entities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463208/000149315223001034/0001493152-23-001034-index.htm

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