Subject to the terms and conditions set forth in the SPA, the base purchase price for 100% of the equity ownership of GTS is $20,000,000, with the consideration structured as follows: Individual Income Tax Returns E01206-032 Review of Service Center Quality. Rights Program E00807-005 FBI Audit Conclusions on the Criminal Informant.
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$16,000,000 in cash paid at closing less the amount needed to pay certain outstanding debt of IMMCO, and plus or minus the amount needed for estimated closing working capital to equal a 3 to 1 ratio andĨ74,317 shares of restricted common stock issued to the GTS shareholders with an aggregate value of $4,000,00 based upon a per share value of $4.575. Www thehartford com servicecenter audit plus#
The SPA provides for the adjustment of the selling price to adjust the final closing working capital at the acquisition date as a post-closing adjustment for net working capital above or below the 3-1 ratio for the closing working capital ratio estimated on the acquisition date and to be finalized within 45 days after the closing date of July 28, 2021.
The SPA contains various customary representations, warranties and covenants. In connection with the SPA, the Company will enter into an employment agreement with one (1) employee of IMMCO in a form acceptable in the discretion of the Company.
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