Beam Global (BEEM): M&A transaction — Beam Global closes acquisition of Amiga for EUR 7M cash plus stock, creates Beam Europe

Beam Global

Acquired Amiga DOO Kraljevo (Serbia) for EUR 7M total consideration: EUR 4.55M cash at close, EUR 2.45M by Dec 31, plus 277,383 shares and additional 149,360 shares.
Amiga will be rebranded as Beam Europe; 2022 revenue > EUR 8.5M, positive cash flow, 210 employees, serves 16 nations.
Earnout: sellers eligible for additional shares if Amiga revenue exceeds EUR 13.5M in 2024 or EUR 18.225M in 2025.
Acquisition expected to be accretive and fast-track European market entry given EU zero-emission mandates by 2035.

Key facts

Extracted from this filing and checked against the source text.

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

Beam Global completed an acquisition involving Amiga DOO Kraljevo for EUR 4,550,000 at closing and will pay the Sellers EUR 2,450,000 on or before December 31, 2023 (closed 2023-10-20).

Action: acquisition
Counterparty: Amiga DOO Kraljevo
Consideration: EUR 4,550,000 at closing and will pay the Sellers EUR 2,450,000 on or before December 31, 2023
Closing: 2023-10-20

Exact text from the filing

On October 20, 2023, Beam Global (“Beam”) completed its previously announced acquisition of Amiga DOO Kraljevo (“Amiga”) , pursuant to a Share Sale and Purchase Agreement dated October 6, 2023 (the “Purchase Agreement”) by and among Beam and the owners of Amiga (the “Sellers”).

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Source: SEC EDGAR

accession 0001683168-23-007358

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