Legacy Education Inc. (LGCY): M&A transaction — Legacy Education completes $8M acquisition of Contra Costa Medical Career College

Legacy Education Inc.

Closed Dec 18, 2024: $8M total consideration ($6.13M cash, $400K promissory note at 6%, 118,906 shares valued at $1M).
Acquires CCMCC in Antioch, CA, adding Surgical Tech, Vocational Nursing, Sonography programs; expands to six CA campuses.
Shares issued in unregistered transaction held in escrow for one year subject to indemnification claims.
Buyer entered 180-day consulting agreement with sellers for transitional support; financial statements due in 75 days.

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

Legacy Education Inc. completed an acquisition involving Contra Costa Medical Career College, Inc. for $8,000,000 (closed 2024-12-18).

Action: acquisition
Counterparty: Contra Costa Medical Career College, Inc.
Consideration: $8,000,000
Closing: 2024-12-18

Exact text from the filing

College (“CCMCC”), located in Antioch, California, pursuant to the execution of its previously announced asset purchase agreement on October 30, 2024 for a purchase price of $8,000,000 . The purchase price is as follows: (i) $6,133,079.84 was paid at closing ($6,600,000 as adjusted for the Estimated Closing Capital), (ii) a promissory note in the principal

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Legacy Education Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-050630

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