NEXGEL, INC. (NXGL): M&A transaction — NexGel acquires Silly George beauty brand for $600k cash+stock plus earn-out

NEXGEL, INC.

Purchase price: $400k cash, $200k in NXGL common stock, and a 4-year net profit earn-out.
Silly George has ~$2M annual revenue run rate; sells eye/eyelash products via DTC and Amazon.
Seller's management remains; inventory provided at cost post-sale.
Acquisition adds 88k Facebook, 83k Instagram followers, and 254k customer emails for cross-selling.
CEO cites immediate operational synergies and step toward profitability.

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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

NEXGEL, INC. completed an acquisition involving Semmens Online Pty Ltd as Trustee for Semmens Business Trust for $400,000 cash and $200,000 in shares (closed 2024-05-15).

Action: acquisition
Counterparty: Semmens Online Pty Ltd as Trustee for Semmens Business Trust
Consideration: $400,000 cash and $200,000 in shares
Closing: 2024-05-15

Exact text from the filing

the tradename “Silly George” (collectively, the “ Business ”). Under the terms of the Purchase Agreement and on the Closing Date, the Company paid the Seller a cash payment of $400,000 (the “ Initial Cash Payment”) and will issue within 5 trading days of the Closing Date $200,000 in shares of the Company’s common stock based on the 10-Day VWAP (as defined in the

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NEXGEL, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-020524

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