Expion360 Inc. Terminates Material Definitive Agreement

TL;DR

Expion360 terminated a key deal, details TBD.

AI Summary

Expion360 Inc. announced on September 24, 2024, the termination of a material definitive agreement. The filing does not specify the other party involved in the agreement or the nature of the agreement that was terminated.

Why It Matters

The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.

Risk Assessment

Risk Level: medium — Termination of a material definitive agreement suggests a significant disruption or change in business relationships, which carries inherent risk.

Key Players & Entities

• Expion360 Inc. (company) — Registrant
• September 24, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share XPON The Nasdaq Capital M
• $30,000 — Company paid one extra month's rent, a $30,000 fee and a broker commission of approxim
• $89,000 — nd a broker commission of approximately $89,000, which the Company will recoup by the f
• $40,000 — is expected to result in approximately $40,000 of cost savings per month over the next

Filing Documents

• xpon_8k.htm (8-K) — 33KB
• 0001903596-24-000606.txt ( ) — 203KB
• xpon-20240924.xsd (EX-101.SCH) — 3KB
• xpon-20240924_lab.xml (EX-101.LAB) — 33KB
• xpon-20240924_pre.xml (EX-101.PRE) — 22KB
• xpon_8k_htm.xml (XML) — 4KB

02. Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement. On September 24, 2024, that certain Commercial Lease, by and between Expion360 Inc., a Nevada corporation (the "Company") and Charron Properties Incorporated, a California corporation (the "Landlord"), dated January 1, 2022 (the "Lease"), of 1266 SW Lake Blvd, Redmond, Oregon, 97756 (the "Property"), was voluntarily terminated to be effective as of October 1, 2024. The Property is approximately 31,400 square feet and was used by the Company for warehousing. The Lease termination is part of an effort by the Company to identify cost reduction opportunities, but does not change the Company's overall strategy regarding leasing of property and the Company's other facilities. The Company currently plans to continue operating its warehousing out of its Redmond, Oregon headquarters and Elkhart, Indiana locations. In connection with the termination of the Lease, the Company paid one extra month's rent, a $30,000 fee and a broker commission of approximately $89,000, which the Company will recoup by the future cost savings of having terminated the Lease early. The Lease termination is expected to result in approximately $40,000 of cost savings per month over the next 51 months. Forward-Looking Statements and Safe Harbor Notice This report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including statements about the Company's beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Forward-looking statements may be identified by wor

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. EXPION360 INC. Date: September 30, 2024 By: /s/ Brian Schaffner Name: Brian Schaffner Title: Chief Executive Officer