NOCERA, INC. (NCRA): M&A transaction — Nocera closes $875k purchase of 229 acres in Alabama for first U.S. fish farm

NOCERA, INC.

Closed on $875,000 purchase of 229 acres of agricultural land in Montgomery, Alabama on Feb 16, 2023.
Funded with $225,000 cash and $650,000 loan from unaffiliated Taiwan financial company at 6% interest, 2-year term.
Plans to construct first large-scale fish farm using Recirculatory Aquaculture Systems; site prep and construction start by Q3 2023.
CEO Jeff Cheng says facility at capacity could generate substantial revenue; model replicable for future U.S. farms.
Pledged $500,000 certificate of deposit as security for the loan.

item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NOCERA, INC. incurred loan of $650,000 with an unaffiliated Taiwan financial company.

Instrument: loan
Principal: $650,000
Counterparty: an unaffiliated Taiwan financial company
Event: incurrence

Exact text from the filing

on February 16, 2023, it closed on its $875,000 purchase of 229 acres of agricultural land in Montgomery, Alabama, of which was funded through available cash of $225,000 and loan proceeds of $650,000 from an unaffiliated Taiwan financial company.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NOCERA, INC. completed an acquisition involving an unaffiliated third party (the Seller) for $875,000 (closed 2023-02-16).

Action: acquisition
Counterparty: an unaffiliated third party (the Seller)
Consideration: $875,000
Closing: 2023-02-16

Exact text from the filing

On February 16, 2023, the Land Acquisition closed. As consideration for the Land Acquisition, the Company paid a total of $875,000 to the Seller

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10 debt financings filed in the last 30 days. Browse all debt financings →

NOCERA, INC. filing history →

Source: SEC EDGAR

accession 0001683168-23-001094

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