Beam Global (BEEM): M&A transaction — Beam Global closes Amiga acquisition, forms Beam Europe; EUR 7M cash + 452K shares

Beam Global

Paid EUR 4.55M at closing; EUR 2.45M due by Dec 31, 2023; issued 293,675 shares + 158,132 future shares.
Amiga reported >EUR 8.5M revenue in 2022, positive cash flow, ~210 employees in Serbia.
Earnout: up to 2x revenue above EUR 13.5M in 2024 and 2x above EUR 18.225M or 135% of 2024 revenue in 2025.
Acquisition marks entry into EU market; Amiga will be rebranded as Beam Europe.
CEO expects deal to be accretive; Amiga's manufacturing and engineering team boosts capacity.

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 (the Sellers) for EUR 4,550,000 at closing and will pay the Sellers EUR 2,450,000 on or before December 31, 2023; Beam issued to the Sellers 293,675 shares of our common stock an (closed 2023-10-20).

Action: acquisition
Counterparty: Amiga DOO Kraljevo (the Sellers)
Consideration: EUR 4,550,000 at closing and will pay the Sellers EUR 2,450,000 on or before December 31, 2023; Beam issued to the Sellers 293,675 shares of our common stock an
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”)

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Source: SEC EDGAR

accession 0001683168-23-007743

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