Company: TUTH
Filing Date: 2025-11-10
Form Type: 1-U
Source: 0001683168-25-008153
Chunk: 3

Company: Standard Dental Labs Inc.
Filing Date: 2025-11-10
Form: 1-U
Chunk 3
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”) for
the 12 months following the closing date (the “Earn-Out Period”) relative to the Annual Earn-Out Target. The “Annual Earn-Out Target” means 80% of Seller Target Gross Billings. The “Seller Target Gross Billings” means the
annualized average monthly billings of the Seller from the Purchased Assets for each of three months ended prior to the closing date as
certified by the completion of an independent audit providing confirmation of such monthly billings for each such month.

The cash consideration (the “Cash Consideration”)
shall be equal to the payoff amount of the Liabilities set forth on a schedule to the Asset Purchase Agreement on the closing date.

The Asset Purchase Agreement contains
customary representations, warranties, covenants and indemnification provisions. Closing the Transaction is subject to certain
closing conditions, including satisfactory completion of due diligence by the Company of the Seller. The Asset Purchase Agreement
may be terminated by mutual consent of the parties, by either party if the Transaction does not close by December 31, 2025, by
either party if the other party is in material breach that is not cured upon notice thereof and by the Company if its due diligence
review is not completed to its reasonable satisfaction by December 31, 2025.

The Asset Purchase Agreement and the schedules
thereto are not intended to provide any other factual information about the Company or Seller or their respective subsidiaries and affiliates.
The Asset Purchase Agreement contains representations and warranties by each of Seller and the Company, which representations
and warranties were made solely for the benefit of the parties to the Asset Purchase Agreement and (i) should not be treated
as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;
(ii) may have been qualified, modified or excepted in the Asset Purchase Agreement by confidential disclosures that were made
to the other party in connection with the negotiation of the Asset Purchase Agreement; (iii) may apply contractual standards of “materiality”
that are different from “materiality” under applicable securities laws; and (iv) were made only as of the date of the Asset
Purchase Agreement or such other date or dates as may be specified in the Asset Purchase Agreement and may change after
the date of the Asset Purchase Agreement, which subsequent information may or may not be fully reflected in public disclosures. Accordingly,
investors and stockholders should not rely on the representations and warranties in the Asset Purchase Agreement as characterizations
of