secwatch.observer — SEC 8-K summary
======================================

Issuer:     Onfolio Holdings, Inc (ONFO)
CIK:        0001825452
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001654954-24-012202
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Onfolio signs agreement to acquire 70% of Eastern Standard digital marketing agency for $2.16M
--------------------------------------------------------------------------------

- Onfolio will own 70% via $1.25M secured notes and $410K Series A Preferred; no upfront cash or common shares issued.
- SPV funding program invests $500K for 20% minority interest; sellers retain 10% rollover equity.
- Eastern Standard generated $4M revenue and $630K adjusted EBITDA for FY2023.
- Expected closing date October 1, 2024; subject to customary conditions.
- CEO states acquisition builds agency platform and targets profitability with non-dilutive funding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825452/000165495424012202/0001654954-24-012202-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825452/000165495424012202/onfo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-012202

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