Unique Logistics International, Inc.: debt financing — Unique Logistics to acquire Singapore subsidiary for $2.15M via cash, note from related party

Unique Logistics International, Inc.

Purchase price: $350,000 cash + assumption of $1,800,000 debt, funded by promissory note to seller.
Seller is Unique Logistics Holdings Limited; buyer's director Patrick Lee is also a seller director.
Richard Lee, seller owner, is an affiliate of the company through Great Eagle Freight Limited.
Closing subject to customary conditions; purchase price adjustable up to $150,000 cap.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.85

Unique Logistics International, Inc. incurred loan of US$1,800,000 with Unique Logistics Holdings Limited.

Instrument: loan
Principal: US$1,800,000
Counterparty: Unique Logistics Holdings Limited
Event: incurrence

Exact text from the filing

the Buyer is borrowing from Seller US$1,800,000 and is issuing to the Seller in exchange therefor a promissory note in the corresponding amount of US$1,800,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Unique Logistics International, Inc. entered into Share Sale and Purchase Agreement with Unique Logistics Holdings Limited valued at US$350,000 cash consideration plus assumption of US$1,800,000 indebtedness (total purchase price up (effective 2024-04-29).

Action: entry
Agreement: asset purchase
Counterparty: Unique Logistics Holdings Limited
Value: US$350,000 cash consideration plus assumption of US$1,800,000 indebtedness (total purchase price up
Effective: 2024-04-29

Exact text from the filing

On April 29, 2024, Unique Logistics International, Inc. (the “Company”) entered into a Share Sale and Purchase agreement (the “Purchase Agreement”), by and between the Company and Unique Logistics Holdings Limited, a Hong Kong corporation (the “Seller”), providing for the acquisition by the Company of all of Seller’s share capital (the “Shares”) in Unique Logistics International (Sin) Pte Ltd. (“Unique Singapore”).

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311 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001493152-24-017703

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