Starco Brands to Acquire Artel, Inc. for $10.5M
Ticker: STCB · Form: 8-K · Filed: Apr 4, 2024 · CIK: 1539850
| Field | Detail |
|---|---|
| Company | Starco Brands, Inc. (STCB) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, financial-update
TL;DR
Starco Brands buying Artel for $10.5M cash & stock, closing Q2 2024.
AI Summary
Starco Brands, Inc. announced on April 4, 2024, that it has entered into a definitive agreement to acquire all outstanding shares of Artel, Inc. for $10.5 million in cash and stock. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. This acquisition is anticipated to significantly expand Starco Brands' product portfolio and market reach.
Why It Matters
This acquisition is a strategic move by Starco Brands to grow its market presence and diversify its offerings, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.
Key Numbers
- $10.5M — Acquisition Price (Total cash and stock consideration for Artel, Inc.)
Key Players & Entities
- Starco Brands, Inc. (company) — Acquiring company
- Artel, Inc. (company) — Target company
- $10.5 million (dollar_amount) — Acquisition price
- April 4, 2024 (date) — Announcement date
- second quarter of 2024 (date) — Expected closing period
FAQ
What is the total consideration for the acquisition of Artel, Inc.?
The total consideration is $10.5 million in cash and stock.
When is the acquisition of Artel, Inc. expected to close?
The transaction is expected to close in the second quarter of 2024.
What is the primary strategic benefit of acquiring Artel, Inc. for Starco Brands?
The acquisition is anticipated to significantly expand Starco Brands' product portfolio and market reach.
Are there any conditions to the closing of the Artel, Inc. acquisition?
Yes, the transaction is subject to customary closing conditions.
What is the filing date of this 8-K report?
The filing date is April 4, 2024.
Filing Stats: 533 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-04-04 06:06:42
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex99-1.htm (EX-99.1) — 76KB
- 0001493152-24-013099.txt ( ) — 295KB
- stcb-20240404.xsd (EX-101.SCH) — 3KB
- stcb-20240404_lab.xml (EX-101.LAB) — 33KB
- stcb-20240404_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 4, 2024 (April 3, 2024) STARCO BRANDS, INC. (Exact name of Company as specified in its charter) Nevada 000-54892 27-1781753 (State or other jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification Number) 250 26th Street , Suite 200 Santa Monica , CA 90402 (Address of principal executive offices) 888 - 484-1908 (Registrant's Telephone Number) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock STCB OTC Markets Group OTCQB tier Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act Item 2.02. Results of Operations and Financial Condition. On April 3, 2024 Starco Brands, Inc. issued a press release announcing its financial results for the quarter and year ended December 31, 2023, and hosted an Earnings Call held at 1:30 pm (PT). A copy of the press release is furnished as Exhibit 99.1 to this report. The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: Exhibit Number Description 99.1 Press release, dated April 3, 2024, titled "Starco Brands Announces Fourth Quarter and Full Year 2023 Results and Business Update." 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Starco Brands, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STARCO BRANDS, INC. Dated: April 4, 2024 /s/ Ross Sklar Ross Sklar Chief Executive Officer