Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 184

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 184
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 working capital adjustment and certain other adjustments. The aggregate purchase price was approximately $ 830.

The Premier Acquisition was accounted for as a business combination in accordance with U.S. GAAP, with the Company as the accounting acquirer. Under this method of accounting, the Premier NYC Acquired Assets are recorded at estimated fair value as of the acquisition date. The excess of the purchase price over the estimated fair value of the net assets acquired, if applicable, is recognized as goodwill.

F-29 STRAN & COMPANY, INC.
NOTES TO THE RESTATED FINANCIAL STATEMENTS
(in thousands, except share and per share amounts)

The following table summarizes the estimated fair value of the total consideration required to be paid pursuant to the Premier Purchase Agreement as of the Premier Closing Date:

|                                       |     | As       
 Reported |       |     | Adjustment |      |   |     | As       
 Restated |     |
|:--------------------------------------|:----|:---------|------:|:----|:-----------|-----:|:--|:----|:---------|----:|
| Cash                                  |     | $        |   440 |     | $          | (340 | ) |     | $        | 100 |
| Cash adjustment for working capital   |     |          |     — |     |            |  340 |   |     |          | 340 |
| Fair value of restricted stock        |     |          |    25 |     |            |  (15 | ) |     |          |  10 |
| Fair value of earn-out payments       |     |          |   908 |     |            | (644 | ) |     |          | 264 |
| Present value of installment payments |     |          |     — |     |            |  116 |   |     |          | 116 |
| Liabilities assumed                   |     |          |    18 |     |            |  (18 | ) |     |          |   — |
| Total consideration                   |     | $        | 1,391 |     | $          | (561 | ) |     | $        | 830 |

The Company determined the estimated fair value of the earn-out payments based on a discounted cash flow method adjusted for the probability of Premier NYC achieving certain milestones as set forth in the Premier Purchase Agreement.

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

|                                       |     | (Restated) |     |   |
|: