XCel Brands Enters Material Definitive Agreement
Ticker: XELB · Form: 8-K · Filed: Jun 24, 2024 · CIK: 1083220
| Field | Detail |
|---|---|
| Company | Xcel Brands, Inc. (XELB) |
| Form Type | 8-K |
| Filed Date | Jun 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing-update
TL;DR
XCel Brands just signed a big deal, filing an 8-K on it. Details to follow.
AI Summary
On June 21, 2024, XCel Brands, Inc. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this event. The company, formerly known as NETFABRIC HOLDINGS, INC and HOUSTON OPERATING CO, is incorporated in Delaware and headquartered in New York.
Why It Matters
This filing indicates a significant new agreement for XCel Brands, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, the specifics of which are not yet detailed in this initial filing.
Key Players & Entities
- XCel Brands, Inc. (company) — Registrant
- NETFABRIC HOLDINGS, INC (company) — Former Company Name
- HOUSTON OPERATING CO (company) — Former Company Name
- June 21, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by XCel Brands, Inc. on June 21, 2024?
The filing states that XCel Brands, Inc. entered into a material definitive agreement on June 21, 2024, but the specific details of the agreement are not provided in this initial 8-K filing.
What other information is included in this 8-K filing besides the material definitive agreement?
This 8-K filing also includes financial statements and exhibits related to the material definitive agreement.
When was XCel Brands, Inc. previously known by other names?
XCel Brands, Inc. was formerly known as NETFABRIC HOLDINGS, INC, with a name change date of May 16, 2005, and HOUSTON OPERATING CO, with a name change date of April 2, 1999.
Where is XCel Brands, Inc. incorporated and what is its principal executive office address?
XCel Brands, Inc. is incorporated in Delaware and its principal executive offices are located at 1333 Broadway, New York, New York 10018.
What is the SIC code for XCel Brands, Inc.?
The Standard Industrial Classification (SIC) code for XCel Brands, Inc. is 6794, which corresponds to PATENT OWNERS & LESSORS.
Filing Stats: 526 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-06-24 16:39:57
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share XELB NASDAQ Global Select
Filing Documents
- xelb-20240621x8k.htm (8-K) — 37KB
- xelb-20240621xex10d1.htm (EX-10.1) — 185KB
- 0001558370-24-009446.txt ( ) — 369KB
- xelb-20240621.xsd (EX-101.SCH) — 3KB
- xelb-20240621_lab.xml (EX-101.LAB) — 16KB
- xelb-20240621_pre.xml (EX-101.PRE) — 10KB
- xelb-20240621x8k_htm.xml (XML) — 5KB
01
Item 1.01 Entry Into a Material Definitive Agreement On June 21, 2024, Xcel Brands, Inc. (the "Company") and Gold Licensing, LLC, a wholly-owned subsidiary of the Company ("Gold" and, together with the Company, the "Xcel Parties"), entered into an asset purchase agreement (the "Agreement")with Lori Goldstein ("LG") and Lori Goldstein Ltd ("Buyer" and, together with LG, the "LG Parties") with respect to the sale by Gold to Buyer of all of the assets acquired by Gold pursuant to the Asset Purchase Agreement (the "Prior APA") dated Mach 30, 2021 and any intellectual property created thereafter that is based on such amounts (collectively, the "Assets") as contemplated by the Binding Term Sheet dated May 22, 2024 by and among the Xcel Parties and LG Parties. The sale of the Assets contemplated by the Agreement will be effective June 30, 2024.
01
Item 9.01 Financial Statement and Exhibits (d) Exhibits Exhibits 10.1 Asset Purchase Agreement dated June 21, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. XCEL BRANDS, INC. (Registrant) By: /s/ James F. Haran Name: James F. Haran Title: Chief Financial Officer Date: June 24, 2024