Inspire Veterinary Partners Inc. filed SEC Form 8-K: Other Events
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Item 8.01 Other Events.
On September 20, 2024 Inspire Veterinary Partners, Inc. (the “Company”), through its holding company KVC Holding Company, LLC sold Kauai Veterinary Clinic, Inc., located in Lihue, Hawaii on the island of Kauai (the “Clinic”). The Clinic was sold to Kauai RE Holdings, LLC (“Kauai RE”) for a total purchase price of $2,162,781.30 (the “Purchase Price”).
The Purchase Price included clear title to the real estate, the practice, all equipment, all inventory, and certain associated debt of the Clinic. The Purchase Price was used to pay the balance of the loan on the Clinic and the Company received no proceeds from the sale.
The agent for the sale was Gregory Armstrong, a current shareholder of the Company and a member of Kauai RE. Charles Keiser, DVM, is a member of Kauai RE and the father of our board member Charles Stith Keiser, who is the Company’s largest shareholder through his entity Wilderness Trace Veterinary Partners, LLC.
The purpose of the sale was based on the Company’s desire to consolidate its operations to the mainland. With the sale of the Clinic, the Company currently has thirteen veterinary hospitals located in nine states.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 26, 2024 | INSPIRE VETERINARY PARTNERS, INC. | |
| By: | /s/ Kimball Carr | |
| Name: | Kimball Carr | |
| Title: | President and Chief Executive Officer | |
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