Xcel Brands Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01 | Entry Into a Material Definitive Agreement |
On June 21, 2024, Xcel Brands, Inc. (the “Company”) and Gold Licensing, LLC, a wholly-owned subsidiary of the Company (“Gold” and, together with the Company, the “Xcel Parties”), entered into an asset purchase agreement (the “Agreement”)with Lori Goldstein (“LG”) and Lori Goldstein Ltd (“Buyer” and, together with LG, the “LG Parties”) with respect to the sale by Gold to Buyer of all of the assets acquired by Gold pursuant to the Asset Purchase Agreement (the “Prior APA”) dated Mach 30, 2021 and any intellectual property created thereafter that is based on such amounts (collectively, the “Assets”) as contemplated by the Binding Term Sheet dated May 22, 2024 by and among the Xcel Parties and LG Parties. The sale of the Assets contemplated by the Agreement will be effective June 30, 2024.
Item 9.01 | Financial Statement and Exhibits |
(d) Exhibits
Exhibits 10.1 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
XCEL BRANDS, INC. (Registrant) | |||
By: | /s/ James F. Haran | ||
Name: | James F. Haran | ||
Title: | Chief Financial Officer | ||
Date: June 24, 2024