MOBIVITY HOLDINGS CORP. (MFON): M&A transaction — Mobivity sells SMS/MMS customer accounts to SMS Factory for earn-out plus $303k prepayment

MOBIVITY HOLDINGS CORP.

Sold SMS/MMS text messaging customer accounts (Acquired Assets) to SMS Factory, Inc.
Purchase price: upfront prepayment of $303,000 plus 2x Gross Profit from each customer account over 2 years (Earn-out Payment).
Earn-out paid semi-annually; Seller retains Excluded Assets (gaming connection business).
Effective date September 25, 2024; transaction closed same day.

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

MOBIVITY HOLDINGS CORP. completed a disposition involving SMS Factory, Inc. (closed 2024-09-25).

Action: disposition
Counterparty: SMS Factory, Inc.
Closing: 2024-09-25

Exact text from the filing

Pursuant to the Asset Purchase Agreement, SMS Factory purchased all of the right, title and interest in the Company’s SMS/MMS text messaging customer accounts, excluding certain Excluded Assets (as defined in the Asset Purchase Agreement) utilized in the operation of the Company’s SMS/MMS text messaging platform business (the “ Business Assets ”) effective as of September 25, 2024 (the “ Closing Date ”).

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Source: SEC EDGAR

accession 0001493152-24-039056

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