Onfolio Holdings, Inc (ONFO): M&A transaction — Onfolio acquires 70% of Eastern Standard for $1.66M; $630K adj. EBITDA

Onfolio Holdings, Inc

Acquired 70% interest in Eastern Standard for $1.66M via $1.25M notes and $410K Series A preferred; no cash or common shares issued.
Eastern Standard FY2023 revenue ~$4M, unaudited adjusted EBITDA $630K.
Financing includes $400K note at 8% due in 120 days and $850K note at 8% due in 2 years; guaranteed by Onfolio.
SPV entities paid $500K cash for 20% interest; seller retains 10% roll-over equity.
CEO expects SPV model and non-convertible preferred shares to fund future acquisitions.

item 1.01 item 2.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Onfolio Holdings, Inc completed an acquisition involving Eastern Standard, LLC for $2,160,000 (closed 2024-10-18).

Action: acquisition
Counterparty: Eastern Standard, LLC
Consideration: $2,160,000
Closing: 2024-10-18

Exact text from the filing

to sell to Eastern Standard Delaware the Business Assets, all as more fully described in the Asset Purchase Agreement. The aggregate purchase price for the Business Assets is $2,160,000. As of the closing, the Company owns 70% of Eastern Standard Delaware in exchange for $1,250,000 payable pursuant to two secured promissory notes which are guaranteed by the

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Onfolio Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001654954-24-013186

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