Company: OMQS
Filing Date: 2025-07-16
Form Type: 8-K
Source: 0001641172-25-019910
Chunk: 1

Company: OMNIQ Corp.
Filing Date: 2025-07-16
Form: 8-K
Item: Item 1.01
Chunk 1
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 including those
unrelated to the Transferred Business or expressly excluded.

The
Purchase Agreement contains customary representations, warranties, and covenants, including pre-closing operating covenants, post-closing
indemnification provisions, and certain limitations on liability. The Transaction and Purchase Agreement were approved by the Company’s
Board of Directors effective June 30, 2025 following completion of a fairness opinion, dated June 27, 2025, from an independent
financial advisor.

In
connection with the closing, the Company and Buyer entered into and delivered various ancillary agreements, including a Bill of Sale,
Assignment and Assumption Agreement, Trademark Assignment Agreement, Promissory Note, Intellectual Property License Agreement, and Transition
Services Agreement. The Company also entered into a consent agreement with its largest vendor Bluestar to consent to the transfer
of the liabilities owed to it from the Company to the Buyer. An entity affiliated with Shai Lustgarten, the Company’s CEO is the
principal member of the Buyer. In addition, an entity affiliated with Jason Griffith, a consultant to the Company, is a minority member
of the Buying entity.

The
Company entered into a conversion agreement with
Shai Lustgarten, the Company’s Chief Executive Officer, of the Company, pursuant to which he converted $31,500 in
outstanding payables owed to him into 450,000 shares of common stock of the Company based on a price of $0.07 per share
which was a slight premium to the market price on July 10, 2025.