Sow Good Inc. Signs Material Definitive Agreement
Ticker: SOWG · Form: 8-K · Filed: May 29, 2024 · CIK: 1490161
Sentiment: neutral
Topics: material-definitive-agreement, corporate-action
TL;DR
Sow Good Inc. just signed a big deal, filing an 8-K on 5/22.
AI Summary
Sow Good Inc. announced on May 22, 2024, that it entered into a material definitive agreement. The company, formerly known as Black Ridge Oil & Gas, Inc., is incorporated in Delaware and has its principal executive offices in Irving, TX.
Why It Matters
This filing indicates a significant business development for Sow Good Inc., potentially impacting its future operations and financial standing.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can carry inherent risks related to the terms, execution, and potential impact on the company's financial health.
Key Players & Entities
- Sow Good Inc. (company) — Registrant
- Black Ridge Oil & Gas, Inc. (company) — Former company name
- May 22, 2024 (date) — Date of earliest event reported
- Irving, TX (location) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Sow Good Inc.?
The filing does not specify the details of the material definitive agreement, only that one was entered into on May 22, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on May 22, 2024.
What was Sow Good Inc. formerly known as?
Sow Good Inc. was formerly known as Black Ridge Oil & Gas, Inc.
Where are Sow Good Inc.'s principal executive offices located?
Sow Good Inc.'s principal executive offices are located at 1440 N Union Bower Rd, Irving, TX 75061.
What is the SEC file number for Sow Good Inc.?
The SEC file number for Sow Good Inc. is 001-42037.
Filing Stats: 717 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-05-29 17:07:37
Key Financial Figures
- $122,175 — for graduated rent payments starting at $122,175 per month, and increasing up to $297,28
- $297,289.14 — 122,175 per month, and increasing up to $297,289.14 per month by the end of the Lease, plus
- $1,000,000 — ide a security deposit in the amount of $1,000,000 in connection with the Lease. The Lease
Filing Documents
- sowg-20240522.htm (8-K) — 51KB
- sowg-ex10_1.htm (EX-10.1) — 469KB
- sowg-ex99_1.htm (EX-99.1) — 12KB
- img59236216_0.jpg (GRAPHIC) — 79KB
- img245980089_0.jpg (GRAPHIC) — 31KB
- 0000950170-24-066060.txt ( ) — 878KB
- sowg-20240522.xsd (EX-101.SCH) — 24KB
- sowg-20240522_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On May 22, 2024, Sow Good Inc., a Delaware corporation (the "Company") entered into an industrial lease (the "Lease") with USCIF Pinnacle Building B LLC, a Delaware limited liability company (the "Lessor"). Pursuant to the terms of the Lease, the Company will lease approximately 324,000 rentable square feet from the Lessor at 4024 Rock Quarry Road, Dallas, Texas (the "Premises") for a term of approximately 62 months (the "Term"), which the Company intends to use as industrial and manufacturing space. The Term of the Lease commenced on May 22, 2024 (the "Lease Commencement Date"). The Lease provides for graduated rent payments starting at $122,175 per month, and increasing up to $297,289.14 per month by the end of the Lease, plus taxes, insurance and common area maintenance costs. The Company is required to provide a security deposit in the amount of $1,000,000 in connection with the Lease. The Lease may be renewed upon the extension in writing between the Company and the Lessor for a period of up to 60 months. The foregoing summary of the Lease does not purport to be complete and is qualified in its entirety by reference to the Lease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01. Other Events
Item 8.01. Other Events. On May 29, 2024, the Company issued a press release announcing that the Company entered into the Lease with the Lessor. The information furnished pursuant to this Item 8.01, 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, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Industrial Lease by and between the Company and USCIF Pinnacle Building B LLC, dated May 22, 2024 99.1 Press Release, dated May 29, 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. SOW GOOD INC. By: /s/ Claudia Goldfarb Claudia Goldfarb Chief Executive Officer Date: May 29, 2024