Inspire Veterinary Partners acquires Valley Veterinary Service for $1.4M in cash and stock

INSPIRE VETERINARY PARTNERS, INC.

Total purchase consideration $1.4M: $1M cash at closing plus $400K in restricted IVP common shares.
Also acquiring real estate for $590K cash, closing expected simultaneously.
Acquisition expected to close by November 8, 2023, subject to customary conditions.
Shares issued in private placement exempt from registration under Rule 506(b).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INSPIRE VETERINARY PARTNERS, INC. entered into Real Estate Asset Purchase Agreement with Michelle Bartus, VMD and Peter Nelson, VMD valued at $590,000 aggregate purchase price payable in cash (effective 2023-10-27).

Action: entry
Agreement: asset purchase
Counterparty: Michelle Bartus, VMD and Peter Nelson, VMD
Value: $590,000 aggregate purchase price payable in cash
Effective: 2023-10-27

Exact text from the filing

Also on October 27, 2023, IVP PA Properties, LLC (“RE AcquisitionSub”), a Delaware limited liability company and wholly-owned subsidiary of the Company, and the Owners entered into a real estate asset purchase agreement (the “Real Estate Asset Purchase Agreement”) with respect to certain real estate assets related to the Valley Veterinary Service animal hospital located at 408 Grace Lane, Rostraver Township, Pennsylvania 15012 (Parcel Nos. 56-12-00-0-148 and 56-12-00-0-144).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INSPIRE VETERINARY PARTNERS, INC. entered into Asset Purchase Agreement with Valley Veterinary Service, Inc., Michelle Bartus, VMD and Peter Nelson, VMD valued at $1,400,000 aggregate purchase consideration comprising $1,000,000 cash plus restricted shares of Cla (effective 2023-10-27).

Action: entry
Agreement: asset purchase
Counterparty: Valley Veterinary Service, Inc., Michelle Bartus, VMD and Peter Nelson, VMD
Value: $1,400,000 aggregate purchase consideration comprising $1,000,000 cash plus restricted shares of Cla
Effective: 2023-10-27

Exact text from the filing

On October 27, 2023, Inspire Veterinary Partners, Inc. (the “Company”) and IVP PA Holding Company, LLC (“AcquisitionSub”), a Delaware limited liability company and wholly-owned subsidiary of the Company, entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Valley Veterinary Service, Inc., a Pennsylvania corporation (the “Seller”), Michelle Bartus, VMD and Peter Nelson, VMD (the “Owners” and together with the Seller, the “Seller Parties”), related to the acquisition of Valley Veterinary Service animal hospital.

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

INSPIRE VETERINARY PARTNERS, INC. filing history →

Source: SEC EDGAR

accession 0001575872-23-001679

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