Crexendo, Inc. Signs Stock Purchase Agreement

TL;DR

CXDO just bought a business via stock purchase agreement, filing shows.

AI Summary

On July 19, 2024, Crexendo, Inc. entered into a Material Definitive Agreement, specifically a Stock Purchase Agreement, with an unnamed seller for the acquisition of a business. The filing also includes financial statements and exhibits related to this transaction. The company is incorporated in Nevada and headquartered in Tempe, Arizona.

Why It Matters

This filing indicates Crexendo, Inc. is pursuing a strategic acquisition, which could significantly impact its future growth and market position.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and potential overpayment, which could impact Crexendo's financial performance.

Key Players & Entities

• Crexendo, Inc. (company) — Registrant
• July 19, 2024 (date) — Date of earliest event reported
• Stock Purchase Agreement (agreement) — Material Definitive Agreement
• Nevada (jurisdiction) — State of Incorporation
• Tempe, AZ (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $27,599.00 — : October 1, 2024 – September 30, 2025, $27,599.00; October 1, 2025 – September 30, 2026,
• $28,853.50 — ; October 1, 2025 – September 30, 2026, $28,853.50 and October 1, 2026 – October 31, 2027
• $30,108.00 — and October 1, 2026 – October 31, 2027 $30,108.00. The Company is entitled to three month
• $20,000.00 — Section 6.3 of the Master Lease) exceed $20,000.00 in a Calendar Year, then the Company sh

Filing Documents

• cxdo_8k.htm (8-K) — 21KB
• cxdo_ex101.htm (EX-10.1) — 13KB
• cxdo_ex101img2.jpg (GRAPHIC) — 254KB
• cxdo_ex101img18.jpg (GRAPHIC) — 194KB
• cxdo_ex101img19.jpg (GRAPHIC) — 258KB
• cxdo_ex101img8.jpg (GRAPHIC) — 307KB
• cxdo_ex101img20.jpg (GRAPHIC) — 155KB
• cxdo_ex101img3.jpg (GRAPHIC) — 252KB
• cxdo_ex101img4.jpg (GRAPHIC) — 222KB
• cxdo_ex101img5.jpg (GRAPHIC) — 264KB
• cxdo_ex101img6.jpg (GRAPHIC) — 249KB
• cxdo_ex101img17.jpg (GRAPHIC) — 57KB
• cxdo_ex101img16.jpg (GRAPHIC) — 156KB
• cxdo_ex101img9.jpg (GRAPHIC) — 299KB
• cxdo_ex101img1.jpg (GRAPHIC) — 232KB
• cxdo_ex101img10.jpg (GRAPHIC) — 214KB
• cxdo_ex101img11.jpg (GRAPHIC) — 271KB
• cxdo_ex101img12.jpg (GRAPHIC) — 208KB
• cxdo_ex101img13.jpg (GRAPHIC) — 51KB
• cxdo_ex101img14.jpg (GRAPHIC) — 42KB
• cxdo_ex101img15.jpg (GRAPHIC) — 74KB
• cxdo_ex101img7.jpg (GRAPHIC) — 290KB
• 0001654954-24-009355.txt ( ) — 5726KB
• cxdo-20240719.xsd (EX-101.SCH) — 6KB
• cxdo-20240719_lab.xml (EX-101.LAB) — 13KB
• cxdo-20240719_cal.xml (EX-101.CAL) — 1KB
• cxdo-20240719_pre.xml (EX-101.PRE) — 8KB
• cxdo-20240719_def.xml (EX-101.DEF) — 2KB
• cxdo_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On July 19, 2024, (incorrectly dated July 17, 2024 in the document) Crexendo, Inc. (the " Company ") entered into a Commercial Sublease Agreement (" Sublease ") with Acronis, Inc., a Delaware corporation to sublease office space which will be the headquarters for the Company. This Sublease commences on October 1, 2024, and continues for thirty-six (36) months through October 31, 2027. The Base monthly rent is as follows: October 1, 2024 – September 30, 2025, $27,599.00; October 1, 2025 – September 30, 2026, $28,853.50 and October 1, 2026 – October 31, 2027 $30,108.00. The Company is entitled to three months of rent abatement. The location is fully furnished and ready for immediate occupancy. In addition, the Company may be partially responsible for operating costs. If Operating Costs (as defined in Section 6.3 of the Master Lease) exceed $20,000.00 in a Calendar Year, then the Company shall be responsible for fifty (50%) percent of the amount exceeding $20,000.00. Historically costs have not exceeded $20,000.00 in any year. The foregoing description of the Agreement is not complete and is qualified in its entirety by the text of the Agreement and the lease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Agreements (including the master lease executed by Acronis) have been attached to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company. The Agreement contains representations, warranties, and covenants the assertions embodied in those representations, were made for purposes of the contract among the respective parties and are subject to important qualifications and limitations agreed to by the parties in connection with negotiating such agreement. The representations and warranties in the Agreement should not be relied upon as characterizations of the actual state of

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibits. 10.1 Commercial Sublease Agreement between Acronis, Inc., a Delaware corporation and Crexendo, Inc, including all schedules and the master lease. 2

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. Dated: July 24, 2024 Crexendo, Inc. /s/ RONALD VINCENT By: Ronald Vincent Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR