OMNIQ terminates $15.25M acquisition of Tadiran Telecom due to unmet conditions

OMNIQ Corp.

Mutual termination of the definitive agreement on October 4, 2023; no cash payment of $12.5M nor stock issuance of $2.75M.
Parties granted mutual release of claims and will continue discussions on potential business collaboration.
Original deal announced July 10, 2023, with a 60-day closing period that expired without conditions being satisfied.

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

OMNIQ Corp. terminated Share and Rights Purchase Agreement with Afcon Holdings Ltd. and Ateka Ltd. (effective 2023-10-04).

Action: termination
Agreement: asset purchase
Counterparty: Afcon Holdings Ltd. and Ateka Ltd.
Effective: 2023-10-04

Exact text from the filing

(the “Company”) entered into a Share and Rights Purchase Agreement (the Agreement”) with Afcon Holdings Ltd . , (“Afcon”), a company organized under the laws

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38 material agreements filed in the last 30 days. Browse all material agreements →

OMNIQ Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-035752

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