Xcel Brands sells Lori Goldstein assets back to Goldstein; terminates earn-out obligations

XCel Brands, Inc.

Sale of all Lori Goldstein-related IP and QVC agreement to Lori Goldstein Ltd, effective June 30, 2024.
LG waives unpaid 2023 earn-out and pro-rata 2024 earn-out; future earn-out and bonus rights cancelled.
LG to remain employed and fulfill QVC appearances through closing; parties aim for definitive agreements by June 21.
Arbitration proceeding adjourned without prejudice pending execution of definitive agreements.

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