Strong Global Entertainment, Inc.: M&A transaction — SGE acquires ICS for $765k total consideration; ICS had $6M 2022 revenue

Strong Global Entertainment, Inc.

Consideration: $200k cash (staggered), 115,607 shares valued at $200k, and assumption of $465k note at 5% interest.
ICS recorded $6M in 2022 revenue; current run rate above that level.
ICS operations fold into Strong Technical Services, expanding managed service offerings nationwide.
Second acquisition since SGE's IPO in May 2023; closed November 3, 2023.

item 1.01 item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Strong Global Entertainment, Inc. completed an acquisition involving Innovative Cinema Solutions, LLC for $100,000, $100,000 deferred, and 115,607 Common Shares (closed 2023-11-03).

Action: acquisition
Counterparty: Innovative Cinema Solutions, LLC
Consideration: $100,000, $100,000 deferred, and 115,607 Common Shares
Closing: 2023-11-03

Exact text from the filing

into an asset purchase agreement (the “Asset Purchase Agreement”). Pursuant to the Asset Purchase Agreement, in exchange of certain assets of the Seller, (i) the Purchaser paid $100,000, (ii) the Purchaser will pay $100,000 on the date that is nine (9) months from the closing date, and (iii) the Company issued an aggregate of 115,607 Class A common voting shares

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Strong Global Entertainment, Inc. entered into Asset Purchase Agreement with Innovative Cinema Solutions, LLC and Seller’s members (effective 2023-11-03).

Action: entry
Agreement: asset purchase
Counterparty: Innovative Cinema Solutions, LLC and Seller’s members
Effective: 2023-11-03

Exact text from the filing

On November 3, 2023, Strong Global Entertainment, Inc. (the “Company”), Strong Technical Services, Inc., a wholly-owned subsidiary of the Company (the “Purchaser”), Innovative Cinema Solutions, LLC (the “Seller”), and Seller’s members (the “Members”) entered into an asset purchase agreement (the “Asset Purchase Agreement”).

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0001493152-23-039784

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.