Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 15

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 15
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 payments by Stran Loyalty Solutions to Secured Party of approximately
$1,099 (the “Cash Purchase Price”), and (b) cash payment of $370 per the Release Agreement (as defined below). The aggregate
purchase price was $1,469.

As a result of the Gander Group Transaction
Closing, the Company indirectly acquired substantially all of the assets of Gander Group, including all of the equity of Gander Group
Louisiana, LLC, a Louisiana limited liability company, which became a wholly-owned subsidiary of Stran Loyalty Solutions.

In addition, Stran Loyalty Solutions
entered into a Release Agreement, dated as of August 23, 2024, between Gander Group and Stran Loyalty Solutions (the “Release Agreement”).
Under the Release Agreement, Gander Group granted a full and complete waiver and release of Stran Loyalty Solutions and its affiliates
of any non-competition, non-solicitation, or similar restrictive covenants of any parties owed to Gander Group or any of its affiliates
and Stran was required to pay an additional $370 to Gander Group.

The Sale Agreement and the Release
Agreement included provisions for indemnification, reimbursement for returned items, handling of assets and liabilities during Gander
Group’s wind-down, and certain other matters.

    Cash 
    $1,099 
  
    Gander release agreement payments 
     370 
  
    Total consideration 
    $1,469 

The following table summarizes the
purchase price allocations relating to the Gander Group Acquisition:

    Accounts receivable 
    $1,717 
  
    Prepaid expenses and other assets 
     946 
  
    Inventory 
     939 
  
    Customer relationships 
     1,458 
  
    Goodwill 
     2,542 
  
    Trade name 
     654 
  
    Other long-term assets 
     58 
  
    Accounts payable and accrued expenses 
     (4,698)
  
    Customer deposits 
     (2,147)
  
    Total consideration 
    $1,469 

The
Gander Group Assets were valued using a combination of a multi-period excess earnings methodology, a form of a discounted cash
flow approach, and a relief from royalty methodology, a form of a present value of cash flows approach. The
$1,717 balance of accounts receivable is the fair value of accounts receivable, net of amounts that are expected to be collected as of
the