Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 315

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 315
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 $90
and $135, respectively. For the six months ending June 30, 2024 and 2023, advertising costs amounted to $195 and $307, respectively.

S.SUBSEQUENT EVENTS:

Completion of Bangarang Acquisition:

On August 23, 2024, Stran Loyalty Solutions,
LLC, a Nevada limited liability company (the “Purchaser” or “Stran Loyalty Solutions”), a wholly-owned subsidiary
of the Company, entered into a Secured Party Sale Agreement, dated as of August 23, 2024 (the “Sale Agreement”), with Sallyport
Commercial Finance, LLC, a Delaware limited liability company (“Secured Party”), pursuant to which the Purchaser agreed to
purchase, on an as-is basis, all of the rights and interests of Bangarang Enterprises, LLC, a California limited liability company (d/b/a
Gander Group) (“Bangarang”), in and to substantially all of the assets of Bangarang (the “Bangarang Assets”) from
Secured Party as a private sale pursuant to Article 9 of the Uniform Commercial Code (the “Bangarang Transaction”).

Under the Sale Agreement, the aggregate
consideration for the Bangarang Assets consisted of (a) cash payments by the Purchaser to Secured Party of $1,099 (the “Cash Purchase
Price”), and (b) the assumption by the Purchaser of certain liabilities totaling approximately $5.5 million (the “Assumed
Liabilities”), subject to adjustments, as described below, at and following the Closing (as defined below), including the payment
at the Closing of $150 to Warson Capital Partners, LLC, an investment banking firm retained by Bangarang, for its fees and expenses with
respect to the Bangarang Transaction, including the marketing for sale of the Bangarang Assets (the “Transaction Expense Payment”).  

As a result of the Closing, the Company
indirectly acquired substantially all of the assets of Bangarang, including all of the equity of Gander Group Louisiana, LLC, a Louisiana
limited liability company, which will be a wholly-owned subsidiary of the Purchaser.

The Company has not completed the purchase
price allocation of this acquisition prior to the issuance of these financial statements, and an estimate of the financial effect of the
transaction cannot be made. All other business combination disclosures are not available due to the proximity of the acquisition to the
issuance of these financial statements