Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 21

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 $654   $654   $—   $654  

The Company recorded amortization expense
of $106 and $85 for the three months ended June 30, 2025 and 2024,
respectively. The Company recorded amortization expense of $236 and $171 for the six
months ended June 30, 2025 and 2024, respectively. 

The following table presents future
estimated amortization expense based on existing intangible assets held for use:

    Fiscal Years: 

    Remainder of 2025 
    $246 
  
    2026 
     488 
  
    2027 
     488 
  
    2028 
     488 
  
    2029 
     488 
  
    Thereafter 
     1,736 
  
    Total 
    $3,934 

Actual future estimated amortization
expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or
changes.

F.ACQUISITIONS

Gander
Group Acquisition

On August 23, 2024, Stran Loyalty Solutions
entered into the Sale Agreement, between Stran Loyalty Solutions and the Secured Party, pursuant to which Stran Loyalty Solutions agreed
to purchase, on an as-is basis, all of the rights and interests of the Gander Group Assets from Secured Party as the Gander Group Transaction.
Gander Group provides promotional products and programs to its customers. The Company entered into the acquisition to expand its customer
base to other industries.

Under the Sale Agreement, the aggregate
consideration for the Gander Group Assets consisted of (a) cash 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.

15

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except
share and per share amounts)

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