Inspire Veterinary Partners Files 8-K: Material Agreement & Equity Update

TL;DR

Inspire Vet Partners filed an 8-K on March 12, 2024, detailing a material agreement and equity sales.

AI Summary

Inspire Veterinary Partners, Inc. entered into a Material Definitive Agreement on March 6, 2024. The company also reported on Unregistered Sales of Equity Securities and filed Financial Statements and Exhibits. The filing was made on March 12, 2024.

Why It Matters

This 8-K filing indicates significant corporate actions, including a material agreement and equity transactions, which could impact the company's financial health and stock performance.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and regulatory risks.

Key Players & Entities

• INSPIRE VETERINARY PARTNERS, INC. (company) — Registrant
• March 6, 2024 (date) — Earliest event date
• March 12, 2024 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• 001-41792 (company_id) — Commission File Number
• 85-4359258 (tax_id) — I.R.S. Employer Identification No.
• 780 Lynnhaven Parkway, Suite 400 Virginia Beach, VA 23452 (address) — Principal executive offices
• ( 757 ) 734-5464 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 IVP Nasdaq Capital Market Indicat
• $151,695.60 — , Inspire agreed to issue to Dr. Kesier $151,695.60 worth of restricted shares of Class A c
• $0.0813 — mon stock based on the closing price of $0.0813 per share on the last trading day immed
• $5,000 — ompany agreed to issue to each Releasor $5,000 worth of restricted shares of Class A c

Filing Documents

• ea0201326-8k_inspire.htm (8-K) — 33KB
• ea0201326ex10-1_inspire.htm (EX-10.1) — 27KB
• ea0201326ex10-2_inspire.htm (EX-10.2) — 27KB
• 0001213900-24-021743.txt ( ) — 272KB
• ivp-20240306.xsd (EX-101.SCH) — 3KB
• ivp-20240306_lab.xml (EX-101.LAB) — 33KB
• ivp-20240306_pre.xml (EX-101.PRE) — 22KB
• ea0201326-8k_inspire_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Consulting Agreement On March 6, 2024, Inspire Veterinary Partners, Inc. ("Inspire" or the "Company") entered into a consulting agreement (the "Consulting Agreement") with Charles "Chuck" Keiser, DVM, an experienced professional of veterinary medicine and the business of veterinary medicine, and a former member of the board of directors of the Company, pursuant to which Inspire agreed to compensate Dr. Keiser for certain consulting services that he has provided to the Company relating to veterinary medicine business support and other related activities. As consideration for Dr. Keiser's consulting services to the Company, Inspire agreed to issue to Dr. Kesier $151,695.60 worth of restricted shares of Class A common stock of the Company, par value $0.0001 per share, which resulted in the issuance of 1,865,875 shares of Class A common stock based on the closing price of $0.0813 per share on the last trading day immediately prior to the date of the Consulting Agreement, as quoted on The Nasdaq Capital Market. The Consulting Agreement will terminate upon delivery of the shares to Dr. Keiser. The Consulting Agreement contains certain non-disclosure and confidentiality provisions applicable to Dr. Keiser for the benefit of the Company. The foregoing description of the Consulting Agreement is qualified in its entirety by reference to the Consulting Agreement, a copy of which is attached hereto as Exhibit 10.1, and which is incorporated herein by reference. General Release On March 6, 2024, Inspire entered into a general release agreement (the "General Release Agreement") with Kenneth Seth Lundquist, DVM, Charles "Chuck" Keiser, DVM, and Don I. Williamson, Jr. DVM, and the Estate of Gregory Armstrong (each, a "Releasor" and collectively, the "Releasors"), pursuant to which the Company agreed to issue to each Releasor $5,000 worth of restricted shares of Class A common stock of the Company, par value $0.0001 per

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information contained in Item 1.01 of this Current Report on Form 8-K under the captions "Consulting Agreement" and "General Release Agreement" is incorporated herein by reference into this Item 3.02. 1 Inspire issued the restricted shares of Class A common stock to Dr. Keiser as set forth in the Consulting Agreement, and to the Releasors as set forth in the General Release Agreement, pursuant to privately negotiated transactions exempt from registration pursuant to Rule 506(b) of Regulation D under the Securities Act of 1933, as amended. Inspire did not receive any proceeds with respect to the issuance of the shares to Dr. Keiser or the Releasors. This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any shares of Class A common stock of the Company or any other securities of the Company in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Item. 9.01. Financial Statements and Exhibits Exhibit No. Description 10.1 Consulting Agreement, dated March 6, 2024, between Inspire Veterinary Partners, Inc. and Charles "Chuck" Keiser, DVM 10.2 General Release Agreement, dated March 6, 2024, between Inspire Veterinary Partners, Inc. and the Releasors party thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Date: March 12, 2024 INSPIRE VETERINARY PARTNERS, INC. By: /s/ Kimball Carr Name: Kimball Carr Title: Chair, President and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR