Boston Omaha Corp Enters Material Definitive Agreement
Ticker: BOC · Form: 8-K · Filed: May 17, 2024 · CIK: 1494582
| Field | Detail |
|---|---|
| Company | Boston Omaha Corp (BOC) |
| Form Type | 8-K |
| Filed Date | May 17, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, real-estate
Related Tickers: BOMN
TL;DR
BOMN signed a big deal on 5/13, details TBD.
AI Summary
Boston Omaha Corporation (BOMN) announced on May 17, 2024, that it entered into a material definitive agreement on May 13, 2024. The filing does not disclose specific details of the agreement or any associated dollar amounts. The company, previously known as REO Plus, Inc., is incorporated in Delaware and operates in the real estate sector.
Why It Matters
This filing indicates a significant new contract or partnership for Boston Omaha Corporation, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its terms and potential impact.
Key Players & Entities
- Boston Omaha Corporation (company) — Registrant
- REO Plus, Inc. (company) — Former company name
- May 17, 2024 (date) — Filing date
- May 13, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Boston Omaha Corporation?
The filing does not specify the nature of the material definitive agreement, only that one was entered into on May 13, 2024.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No, the filing does not disclose any specific dollar amounts or financial terms related to the material definitive agreement.
When was this material definitive agreement entered into?
The material definitive agreement was entered into on May 13, 2024.
What is the filing date for this 8-K report?
The filing date for this 8-K report is May 17, 2024.
What was Boston Omaha Corporation's former company name?
Boston Omaha Corporation's former company name was REO Plus, Inc.
Filing Stats: 800 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-05-17 07:00:13
Key Financial Figures
- $0.001 — ich Registered Class A common stock , $0.001 par value per share BOC The New York
Filing Documents
- bomn20240516_8k.htm (8-K) — 28KB
- ex_675752.htm (EX-10.1) — 43KB
- ex_675753.htm (EX-10.2) — 46KB
- 0001437749-24-017381.txt ( ) — 272KB
- boc-20240513.xsd (EX-101.SCH) — 3KB
- boc-20240513_def.xml (EX-101.DEF) — 12KB
- boc-20240513_lab.xml (EX-101.LAB) — 15KB
- boc-20240513_pre.xml (EX-101.PRE) — 12KB
- bomn20240516_8k_htm.xml (XML) — 3KB
01
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT Services Agreement As part of the previously announced wind down of Boston Omaha Asset Management, LLC ("BOAM"), a subsidiary of Boston Omaha Corporation ("Boston Omaha"), BOAM and Brendan J. Keating entered into a Services Agreement for Mr. Keating to provide management services associated with the wind down of BOAM. These services will be provided through a limited liability company owned by Mr. Keating named Local Asset Management LLC ("Local"). As a result, the employment agreement between Mr. Keating and BOAM previously in effect has been terminated and replaced with the Services Agreement between BOAM and Local. The Services Agreement provides for consulting fees which will be reduced over time as assets managed by BOAM are sold. The termination of Mr. Keating's employment agreement is expected to result in significant cost-savings to BOAM over this time period. In addition, BOAM and Mr. Keating entered into a customary Separation Agreement and Release. The foregoing description of each of the Services Agreement and the Separation Agreement and Release are not complete and are qualified in their entirety by reference to the complete text of each of the Services Agreement and the Separation Agreement and Release, copies of which are attached to this Form 8-K as Exhibits 10.1 and 10.2, respectively and are incorporated herein by reference. Mr. Keating will continue to serve as a member of the Board of Directors of Boston Omaha. As previously announced, BOAM is now a wholly-owned subsidiary of Boston Omaha and each of Messrs. Peterson, Keating and Rozek, the former holders of Class C units of BOAM, are no longer members of BOAM or have any rights to any distributions from BOAM. Consummation of Rozek Separation Agreement As previously announced on May 10, 2024, on May 9, 2024, the Company entered into a Separation Agreement with each of Alex. Rozek, former Co-CEO and Co-Chairman of the Board of Direct
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. The Exhibit Index set forth below is incorporated herein by reference. EXHIBIT INDEX Exhibit Number Exhibit Title 10.1 Services Agreement between Local Asset Management LLC and Boston Omaha Asset Management, LLC, dated May 13, 2024. 10.2 Separation Agreement and Release between Boston Omaha Asset Management, LLC and Brendan J. Keating, dated May 13, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3
SIGNATURES
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. BOSTON OMAHA CORPORATION (Registrant) By: /s/ Joshua P. Weisenburger Joshua P. Weisenburger, Chief Financial Officer Date: May 17, 2024 4