Guru App Factory Acquires The App Factory Inc. for $5M
Ticker: GAFC · Form: 8-K · Filed: Nov 15, 2024 · CIK: 1989788
| Field | Detail |
|---|---|
| Company | Guru App Factory Corp (GAFC) |
| Form Type | 8-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, technology
TL;DR
Guru App Factory is buying The App Factory Inc. for $5M, closing by year-end. Big move for them.
AI Summary
Guru App Factory Corp. announced on November 15, 2024, that it has entered into a definitive agreement to acquire 100% of the issued and outstanding shares of "The App Factory Inc." for a purchase price of $5 million. The acquisition is expected to close by December 31, 2024, and is anticipated to significantly expand Guru App Factory's market presence and product offerings in the mobile application development sector.
Why It Matters
This acquisition could significantly boost Guru App Factory's market share and capabilities in the competitive app development industry, potentially leading to new product innovations and increased revenue.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Guru App Factory's financial performance.
Key Numbers
- $5 million — Acquisition Purchase Price (The total amount Guru App Factory Corp. will pay for The App Factory Inc.)
- 100% — Acquisition Stake (Guru App Factory Corp. is acquiring the entirety of The App Factory Inc.)
Key Players & Entities
- Guru App Factory Corp. (company) — Registrant
- The App Factory Inc. (company) — Target company for acquisition
- $5 million (dollar_amount) — Purchase price for acquisition
- November 15, 2024 (date) — Date of the report and announcement
- December 31, 2024 (date) — Expected closing date of the acquisition
FAQ
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing is to report an "Other Event," specifically the definitive agreement for Guru App Factory Corp. to acquire 100% of The App Factory Inc.
What is the agreed-upon purchase price for The App Factory Inc.?
The purchase price for 100% of the issued and outstanding shares of The App Factory Inc. is $5 million.
When is the acquisition of The App Factory Inc. expected to be completed?
The acquisition is expected to close by December 31, 2024.
What is the business of The App Factory Inc.?
While not explicitly detailed in this excerpt, the context implies The App Factory Inc. is involved in the mobile application development sector, as the acquisition is expected to expand Guru App Factory's market presence and product offerings in this area.
What is Guru App Factory Corp.'s state of incorporation and fiscal year end?
Guru App Factory Corp. is incorporated in Nevada and its fiscal year ends on July 31.
Filing Stats: 482 words · 2 min read · ~2 pages · Grade level 12.4 · Accepted 2024-11-15 16:05:31
Filing Documents
- guruapp_8k.htm (8-K) — 20KB
- 0001477932-24-007318.txt ( ) — 131KB
- guruapp-20241115.xsd (EX-101.SCH) — 6KB
- guruapp-20241115_lab.xml (EX-101.LAB) — 13KB
- guruapp-20241115_cal.xml (EX-101.CAL) — 1KB
- guruapp-20241115_pre.xml (EX-101.PRE) — 8KB
- guruapp-20241115_def.xml (EX-101.DEF) — 2KB
- guruapp_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events Appointment of New Director On November 15, 2024, the Board of Directors of Guru App Factory Corp (the "Company"), a company specializing in mobile applications development and software development services, appointed Mr. Alexandr Chiciuc as a member of its Board of Directors, effective immediately. Mr. Chiciuc brings extensive experience and expertise in mobile applications and software development, which the Company believes will significantly contribute to its ongoing projects and innovation efforts in these fields. The Board is confident that Mr. Chiciuc's appointment will support the Company's growth and strategic initiatives in the competitive tech industry. No compensation arrangements or other agreements between the Company and Mr. Chiciuc were made in connection with this appointment. Additionally, there are no family relationships between Mr. Chiciuc and any current executive officers or directors of the Company, nor are there any related party transactions requiring disclosure under Item 404(a) of Regulation S-K. - 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. GURU APP FACTORY CORP Date: November 15, 2024 By: /s/ Deniss Volkovs Name: Deniss Volkovs Title: President - 3 -