AgriForce terminates Delphy acquisition deal; revised purchase price not agreed

AVAX ONE TECHNOLOGY LTD.

Mutual termination of sales and purchase agreement with Delphy Groep BV, effective May 25, 2023, after due diligence.
Revised purchase price sought by AgriForce could not be agreed due to financial projections and market conditions.
CEO Ingo Mueller states company is proceeding aggressively with alternative M&A opportunities seen as accretive.
AgriForce and Delphy may revisit collaboration in future; no deal value disclosed.

item 1.02 item 8.01 item 9.01

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

AVAX ONE TECHNOLOGY LTD. terminated sales and purchase agreement with Delphy Groep BV (effective 2023-05-25).

Action: termination
Counterparty: Delphy Groep BV
Effective: 2023-05-25

Exact text from the filing

Effective May 25, 2023, the previously announced sales and purchase agreement between AgriForce Growing Systems, Ltd. (the “Company”) and Delphy Groep BV was terminated.

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Source: SEC EDGAR

accession 0001493152-23-019817

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