secwatch.observer — SEC 8-K summary
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Issuer:     Eightco Holdings Inc. (ORBS)
CIK:        0001892492
Form:       8-K
Filed at:   2024-11-27T23:59:59+00:00
Accession:  0001493152-24-048011
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eightco to sell Ferguson Containers assets for $3.058M cash & note; needs shareholder OK
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- Asset sale of Eightco subsidiary Ferguson Containers to Ferguson Containers LLC for $557,835 cash and a $2.5M seller note at 9.75%.
- Seller note due Dec 31, 2034; monthly installments of $32,692.56 begin Jan 1, 2025.
- Earnout of up to $250k each for achieving $1M EBITDA in 2024 and 2025; prorated between $900k and $1M.
- Transaction conditioned on stockholder approval and a fairness opinion; closing expected by year-end 2024.
- Buying parties include Edward Reichard and Derick Reichard; review period of 5 business days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224048011/0001493152-24-048011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224048011/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-048011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer