Muscle Maker amends Sadot services agreement, reducing stock issuance expense by 50%

Sadot Group Inc.

Issued 8,855,452 shares to Aggia on July 14, 2023; total potential issuance remains 14,424,275 shares.
Stock compensation formula changed from 80% of Sadot's net income to 40%, halving quarterly non-cash expense.
CEO expects amendment to more than triple net income from Sadot accruing to MMI's bottom line.
Unvested shares may be repurchased by MMI at $0.001 per share after July 14, 2028; debt accrual of 40% of net income capped at $71.5M.

item 1.01 item 2.03 item 3.02 item 7.01 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 0.7

Sadot Group Inc. amended Addendum 2 to the Services Agreement with Aggia LLC FZ (effective 2023-04-01).

Action: amendment
Counterparty: Aggia LLC FZ
Effective: 2023-04-01

Exact text from the filing

On July 14, 2023 (the “Addendum Date”), effective April 1, 2023, the parties entered into Addendum 2 to the Services Agreement (“Addendum 2”) pursuant to which the parties amended the compensation that Aggia is entitled.

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Sadot Group Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-024785

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