Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2191

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9C
Chunk 2191
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for tax purposes.

The
Company incurred approximately $435 of acquisition related transaction costs in conjunction
with the Gander Group Acquisition.

Pro forma disclosure for the Gander Group Acquisition

The following unaudited pro forma financial
information reflects the consolidated results of operations of the Company for the year ended December 31, 2024, as if the Bangarang Acquisition
had taken place on January 1, 2024. The financial results of the Bangarang Acquisition are included in the Company’s statements
of operation from the Closing Date through December 31, 2024. The pro forma financial information is not necessarily indicative of
the results of operations as they would have been had the transactions been effected on the assumed date:

    December 31, 2024 
  
    Sales 
    $112,793 
  
    Net loss 
     (826)

    Net loss per share - basic & diluted 
    $(0.04)
  
    Weighted average shares outstanding - basic & diluted 
     18,587,607 

F-20

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

TR
Miller Acquisition

On
June 1, 2023 (the “T R Miller Closing Date”), the Company completed its acquisition (the “T R Miller Acquisition”)
of substantially all of the assets (the “T.R. Miller Acquired Assets”) of T R Miller Co., Inc. (“T R Miller”),
pursuant to the Asset Purchase Agreement, date as of January 25, 2023 (the “T R Miller Purchase Agreement”), among the Company,
T R Miller, and Thomas R Miller (the “T R Miller Stockholder”). T R Miller provides branded merchandise to its customers. The Company entered into the acquisition to enhance its operational capabilities
and expand its customer base.

The
aggregate consideration required to be paid to T R Miller for the purchase of the T R Miller Acquired Assets was (a) $1,000 payable in
cash on the T R Miller Closing Date; (b) an amount equal to the cost basis of Inventory (as defined in the T R Miller Purchase Agreement);
(c) four annual installment payments due on each anniversary of the T R Miller Closing Date, equal to $400, $300, $200, and $200, respectively;
(d) four annual earn-out payments equal to (i) 45% of