Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
TON Strategy Co completed a disposition involving Scaleworks, Inc., through its special purpose entity SW Direct Sales, LLC for approximately $6.5 million, in cash, inclusive of a $1.5M earn-out (closed 2023-06-13).
- Action
- disposition
- Counterparty
- Scaleworks, Inc., through its special purpose entity SW Direct Sales, LLC
- Consideration
- approximately $6.5 million, in cash, inclusive of a $1.5M earn-out
- Closing
- 2023-06-13
Exact text from the filing
now focus its resources entirely on its livestream shopping platform, MARKET.live. Under the terms of the APA, the total purchase consideration is expected to be approximately $6.5 million, in cash, inclusive of a $1.5M earn-out consisting of $750,000 per year for each of the next two 12-month periods, based on the combined direct sales and life sciences business
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
TON Strategy Co entered into Asset Purchase Agreement with Scaleworks, Inc., through its special purpose entity SW Direct Sales, LLC valued at total purchase consideration is expected to be approximately $6.5 million, in cash, inclusive of a $ (effective 2023-06-13).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Scaleworks, Inc., through its special purpose entity SW Direct Sales, LLC
- Value
- total purchase consideration is expected to be approximately $6.5 million, in cash, inclusive of a $
- Effective
- 2023-06-13
Exact text from the filing
On June 13, 2023, Verb Technology Company, Inc. (the "Company") executed an asset purchase agreement (the "APA") with Scaleworks, Inc., a San Antonio, TX-based B2B software private equity fund, through its special purpose entity SW Direct Sales, LLC (the "Buyer") and simultaneously closed the sale of all assets that comprised its direct sales and life sciences software-as-a-service applications
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