Beam Global amends earnout terms for Amiga acquisition, removes service requirement

Beam Global

Removed service requirement for sellers to receive earnout consideration from Amiga acquisition.
Earnout milestones: FY2024 revenue > EUR 13.5M; FY2025 > greater of EUR 18.225M or 135% of 2024.
Amendment executed Feb 16, 2024, by Beam and sellers Ivan Tlačinac and Jelena Spasojević.
Acquisition of Amiga completed Oct 20, 2023; earnout originally required sellers be providing services.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Beam Global amended Purchase Agreement with the two owners of Amiga (the "Sellers") (effective 2024-02-16).

Action: amendment
Agreement: asset purchase
Counterparty: the two owners of Amiga (the "Sellers")
Effective: 2024-02-16

Exact text from the filing

OO Kraljevo (“Amiga”) , pursuant to a Share Sale and Purchase Agreement dated October 6, 2023 (the “Purchase Agreement”) by and among Beam and the two owners of Amiga (the “Sellers”).

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Beam Global filing history →

Source: SEC EDGAR

accession 0001683168-24-001054

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