Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
SkinHealth Systems Inc. entered into Stock Purchase Agreement with Dr. Lawrence Groop, Kristin Groop, and Esthetic Education, LLC valued at $16,300,000 (effective 2023-02-27).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Dr. Lawrence Groop, Kristin Groop, and Esthetic Education, LLC
- Value
- $16,300,000
- Effective
- 2023-02-27
Exact text from the filing
On February 27, 2023, Edge Systems Intermediate, LLC (the “Buyer”), an indirect, wholly-owned subsidiary of The Beauty Health Company (the “Company”), entered into that certain Stock Purchase Agreement (the “Purchase Agreement”), with Dr. Lawrence Groop (“Seller”) and Kristin Groop (“Mrs. Groop”), and Esthetic Education, LLC, a company wholly-owned by Mrs. Groop (“EE LLC” and collectively with Seller and Mrs. Groop, the “Seller Parties” and each, a “Seller Party”). Pursuant to the Purchase Agreement, Seller will sell to Buyer, and Buyer will purchase from Seller, all of the outstanding shares of Esthetic Medical Inc. (“EMI”), a company wholly-owned by Dr. Groop (the “EMI Shares”), upon the terms and subject to the conditions of the Purchase Agreement (such purchase and sale, together with the other transactions contemplated by the Purchase Agreement, the “Transactions”). In exchange for the EMI Shares, Buyer will pay or cause to be paid to Seller total consideration of $16,300,000
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