Vestand Inc. (VSTD): M&A transaction — Yoshiharu closes $3.6M acquisition of three Las Vegas restaurants; expects $6M annual revenue

Vestand Inc.

Acquired assets of Jjanga, HJH, Ramen Aku for $3.6M ($1.8M cash + $600K note + $1.2M convertible note).
Seller Jiyuck Hwang becomes managing director; annual salary $180K plus RSUs up to $100K.
Acquired entities had combined revenue $5.7M in 2023, net income $299K, but accumulated deficit $4.9M.
CEO expects acquired restaurants to generate $6M annual revenue, achieving breakeven in H2 2024 and profitability in 2025.
Filing amends prior 8-K to correct errors in combined financial statements (Exhibits 99.2-99.4).

item 1.01 item 2.01 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

Vestand Inc. completed an acquisition involving Jiyuck Hwang for $3.6 million (closed 2024-06-12).

Action: acquisition
Counterparty: Jiyuck Hwang
Consideration: $3.6 million
Closing: 2024-06-12

Exact text from the filing

On June 12, 2024, the Company closed the Acquisition described in Item 1.01 above for an aggregate $3.6 million.

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Vestand Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-035019

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.