Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Clever Leaves Holdings Inc. completed a disposition involving KAC Investments LLC for $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in (closed 2024-03-21).
- Action
- disposition
- Counterparty
- KAC Investments LLC
- Consideration
- $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in
- Closing
- 2024-03-21
Exact text from the filing
On March 21, 2024 (the “Closing Date”), Clever Leaves Holdings, Inc. (the “Company”) and NS US Holdings, Inc. (the “Seller”), which is a wholly owned subsidiary of the Company, entered into a Stock Purchase Agreement (the “Purchase Agreement”) with KAC Investments LLC (the “Buyer”), pursuant to which the Company sold its non-cannabinoid business segment (the “Sale Transaction”), which is comprised of the Company’s wholly owned subsidiary Herbal Brands, Inc. (“HBI”, and together with the Company and the Seller, collectively the “Seller Parties”). The Purchase Agreement includes customary representations and warranties of the parties and post-closing indemnities. The Sale Transaction was completed on the Closing Date, for a purchase price of $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in favor of the Seller in the original principal amount of $1.00 million (the “Note and Secu
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Clever Leaves Holdings Inc. entered into "Purchase Agreement" with KAC Investments LLC valued at $8.02 million (effective 2024-03-21).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- KAC Investments LLC
- Value
- $8.02 million
- Effective
- 2024-03-21
Exact text from the filing
On March 21, 2024 (the “Closing Date”), Clever Leaves Holdings, Inc. (the “Company”) and NS US Holdings, Inc. (the “Seller”), which is a wholly owned subsidiary of the Company, entered into a Stock Purchase Agreement (the “Purchase Agreement”) with KAC Investments LLC (the “Buyer”), pursuant to which the Company sold its non-cannabinoid business segment (the “Sale Transaction”), which is comprised of the Company’s wholly owned subsidiary Herbal Brands, Inc. (“HBI”, and together with the Company and the Seller, collectively the “Seller Parties”).
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