Arvana enters agreement to acquire Down 2 Fish Charters for $750K total consideration

ARVANA INC

Down2Fish acquired for $50K cash plus $700K promissory note at 7.25%, due in 24 months.
Down2Fish operates fishing charters from Palmetto, FL, serving Tampa Bay area with two vessels.
Closing expected in Q1 2023; subject to due diligence and GAAP financial statements.
Acquisition intended to transition Arvana from shell to operating company.

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

ARVANA INC entered into Business Purchase Agreement with LCF Salons, LLC valued at $50,000 and a promissory note in the amount of $700,000 (effective 2022-11-16).

Action: entry
Agreement: asset purchase
Counterparty: LCF Salons, LLC
Value: $50,000 and a promissory note in the amount of $700,000
Effective: 2022-11-16

Exact text from the filing

On November 16, 2022, Arvana Inc. (“Company”) entered into a Business Purchase Agreement (“Agreement”) with LCF Salons, LLC. (“LCF”) to acquire Down 2 Fish Charters, LLC. (“Down2Fish).

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Source: SEC EDGAR

accession 0001607062-22-000709

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