IGEX acquires 25% stake in St. Andrews Holding for $6M, 12-month payment period

Indo Global Exchange(s) Pte, Ltd.

Acquired 25% membership stake in St. Andrews Holding S.L. valued at ~$8.16M for a discounted $6M.
Payment terms: 12 months to pay preferred investor's contribution without interest; signed March 18, 2024.
St. Andrews focuses on sustainable marine aquaculture, fingerlings, and gourmet products with 50+ years experience.
Prior exclusive Oct 2023 agreement for 49% stake at $16M valuation by appraiser RESA CORPORATE FINANCE.

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

Indo Global Exchange(s) Pte, Ltd. entered into a equity purchase with St. Andrews Holding Company S.L. valued at approximately $8.16 million (effective 2024-03-18).

Action: entry
Agreement: equity purchase
Counterparty: St. Andrews Holding Company S.L.
Value: approximately $8.16 million
Effective: 2024-03-18

Exact text from the filing

on March 18, 2024, IGEX has executed all necessary agreements and acquired 25% of the corporate membership of Saint Andrews S.L. The acquired stake is worth approximately $8.16 million US Dollars. The acquisition was acquired at a discounted price of $6 million.

View on SEC.gov

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

Indo Global Exchange(s) Pte, Ltd. entered into Confidential and Exclusive Agreement with St. Andrews Holding Company S.L. valued at twelve-million Dollars (effective 2023-10-23).

Action: entry
Agreement: equity purchase
Counterparty: St. Andrews Holding Company S.L.
Value: twelve-million Dollars
Effective: 2023-10-23

Exact text from the filing

The Company entered into a Confidential and Exclusive Agreement on October 23, 2023, for the acquisition of 49% of the total outstanding capital stock of St. Andrews Holding Company S.L. for twelve-million Dollars.

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Source: SEC EDGAR

accession 0001493152-24-010642

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