Item 1.01 Entry into a Definitive Material Agreement.
On
The Company has agreed to issue to the sellers, as consideration, a total of
54,850,103 shares of its Class A Common Stock, par value
The Company expects to obtain the approval of the Share Acquisition from the Company's majority stockholder and to mail a copy of an information statement relating thereto to its stockholders.
The Agreement contains representations and warranties and covenants as are customary for transactions of this type. The Company expects to close the Share Acquisition in the first calendar quarter of 2020.
The foregoing description of the Stock Purchase Agreement does not purport to be
complete and is qualified in its entirety by reference to and incorporates
herein by reference the full text of the Stock Purchase Agreement, a copy of
which will be filed in accordance with
On
© Edgar Online, source