secwatch.observer — SEC 8-K summary
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Issuer:     SOLITRON DEVICES INC (SODI)
CIK:        0000091668
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0001654954-23-011552
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Solitron closes Micro Engineering acquisition for $3M; preliminary Q2 sales $2.6M, backlog $8.8M
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- Closed acquisition of Micro Engineering Inc. on Sept 1; initial $3.0M cash, earnouts up to 7.5% of annual revenue (~$450k each) over 3 years.
- MEI 2022 revenue $5.9M (unaudited), operating income $1.3M; serves medical and defense; one customer ~90% of revenue.
- Preliminary F2024 Q2 net sales ~$2.6M; bookings >$2.2M; backlog ~$8.8M.
- Expects additional orders of $2-3M from US stockpile program and foreign military sales if approved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91668/000165495423011552/0001654954-23-011552-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91668/000165495423011552/sodi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-011552

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer