Company: SWAGW
Filing Date: 2025-04-07
Form Type: 8-K/A
Source: 0001213900-25-029436
Chunk: 4

Company: Stran & Company, Inc.
Filing Date: 2025-04-07
Form: 8-K/A
Chunk 4
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 Purchase Agreement, subject to Secured Party’s rights under the Factor Purchase Agreement; and all proceeds of accounts that
Secured Party charged back to Bangarang under the terms of the Factor Purchase Agreement during the ninety (90) day period prior to the
Closing Date will likewise be applied to the obligations of the Purchaser under the Sale Agreement.

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In addition, on August 23, 2024, Bangarang and
the Purchaser entered into a Release Agreement, dated as of August 23, 2024 (the “Release Agreement”). Under the Release Agreement,
Bangarang granted a full and complete waiver and release of the Purchaser and its affiliates of any non-competition, non-solicitation,
or similar restrictive covenants of any parties owed to Bangarang or any of its affiliates. The Release Agreement also provides that Bangarang
will promptly remit the Bangarang Assets and any security deposits, checks, cash, payments, mail or other communications relating to the
Bangarang Assets or the Assumed Liabilities that are received by Bangarang after the Closing Date. Bangarang will also be required to
take certain steps following the Closing Date to facilitate the orderly wind-down of Bangarang, including retaining a chief wind-down
officer. In addition, pursuant to the Release Agreement, on the Closing Date, and in addition to the payment of the Cash Purchase Price
to Secured Party and the assumption of the Assumed Liabilities under the Sale Agreement, the Purchaser tendered to Bangarang $370,000,
which was required to be paid via wire transfer to Bangarang in an account controlled exclusively by the chief wind-down officer.

The foregoing description of the Sale Agreement
and the Release Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sale Agreement
and the Release Agreement, redacted copies of which are filed as Exhibit 2.1 and Exhibit 2.2 to this Current Report, respectively. The
foregoing description has been included to provide investors and security holders with information regarding the terms of the Sale Agreement
and the Release Agreement and is qualified in its entirety by the terms and conditions of the Sale Agreement and the Release Agreement,
respectively. It is not intended to provide any other factual information about the Company, the Purchaser, Bangarang, Secured Party,
or their respective subsidiaries and affiliates. The Sale Agreement and the Release