Nu Ride to acquire Affinity Advisory for ~$9.6M in cash, stock, and earnout

NU RIDE INC.

Total consideration of ~$9.6M includes $6.72M cash, 80,000 Class A shares, plus earnout up to $1.312M; closing expected in Q3 2026.
Affinity generated over $3.5M revenue (12 months ended March 31, 2026); nationwide network across 700+ cities.
Robert Hall will continue as CEO of subsidiary; new employment agreement with $125K base salary and equity bonuses.
Transaction structured via subsidiary Affinity Advisory Holding Corp., with Sellers retaining 15% ownership.
Share issuance is unregistered, exempt under Section 4(a)(2) and Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NU RIDE INC. entered into Membership Interest Purchase Agreement with Affinity Advisory Network, LLC, AAN Wealth Advisors, LLC, HIH M MFTG Trust, The Hall Companies Corporate Ohio Legacy Trust, and Robert Hall valued at $6,720,000 (effective 2026-06-02).

Action: entry
Agreement: asset purchase
Counterparty: Affinity Advisory Network, LLC, AAN Wealth Advisors, LLC, HIH M MFTG Trust, The Hall Companies Corporate Ohio Legacy Trust, and Robert Hall
Value: $6,720,000
Effective: 2026-06-02

Exact text from the filing

On June 2, 2026 (the “Signing Date”), Affinity Advisory Holdings Corp., a Delaware corporation (the “Buyer”) and a wholly-owned subsidiary of Nu Ride Inc. (the “Company”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC (together, “Affinity”), HIH M MFTG Trust and The Hall Companies Corporate Ohio Legacy Trust (the “Sellers”), and Robert Hall pursuant to which the Buyer agreed to acquire 100% of the issued and outstanding membership interests of Affinity from the Sellers.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NU RIDE INC. entered into Stockholders Agreement with the Buyer, the Company, and the Sellers (Affinity Advisory Network, LLC, AAN Wealth Advisors, LLC, HIH M MFTG Trust, The Hall Companies Corporate Ohio Legacy Trust, and Robert Hall) (effective 2026-06-02).

Action: entry
Counterparty: the Buyer, the Company, and the Sellers (Affinity Advisory Network, LLC, AAN Wealth Advisors, LLC, HIH M MFTG Trust, The Hall Companies Corporate Ohio Legacy Trust, and Robert Hall)
Effective: 2026-06-02

Exact text from the filing

On the Signing Date, the Buyer, the Company and the Sellers also agreed to a Stockholders Agreement (the “Stockholders Agreement”) to be entered into at closing of the transaction, governing the ongoing governance and ownership of the Buyer following the closing of the acquisition.

View on SEC.gov

290 material agreements filed in the last 30 days. Browse all material agreements →

NU RIDE INC. filing history →

Source: SEC EDGAR

accession 0001493152-26-027277

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