ContractFinancial Information • June 3rd, 2022 • XCel Brands, Inc. • Patent owners & lessors
On May 27, 2022, Xcel Brands, Inc. (the “Company”) entered into a membership interest purchase agreement (the “Purchase Agreement) with IM Topco, LLC (“IM Topco”), a Delaware limited liability company, and wholly-owned subsidiary of the Company, IM WHP, LLC (“WHP”) and IM Brands, LLC, a wholly-owned subsidiary of the Company (“IMB”) pursuant to which, on May 31, 2022 (the “Closing Date”), (i) the Company contributed assets owned by IMB, including the “Isaac Mizrahi” trademark and other intellectual property rights relating thereto, among other things, into IM Topco and (ii) the Company sold 70% of the membership interests of IM Topco to WHP. The purchase price paid by WHP to the Company at the closing of the transactions (the “Closing”) in exchange for the 70% membership interest in IM Topco consisted of $46,200,000 in cash. Pursuant to the Purchase Agreement, the Company will also be entitled to receive an “earnout” payment in the amount of $2,000,000 if, during the period from Januar
Pharmacy Financial AgreementFinancial Information • January 26th, 2011
We both understand that Moye’s Long Term Care Pharmacy will provide medications and other supplies requested by the physician &/or assisted living facility personnel. The responsible party will be accountable for payment of these items ordered. Once medications have been delivered to the facility, medications may not be returned for a credit. Also, it is the facility and the guarantor responsibility to notify Moye’s Pharmacy of any change in the resident’s status at the facility, such as in the hospital, moved out, or deceased. Moye’s Pharmacy must be notified of any status change within 24 hours. If Moye’s has not been notified of a status change & medications are delivered, the resident may be subject to a $50.00 restocking fee.
