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Bloomia Acquisition (Tables)
3 Months Ended
Mar. 31, 2024
Bloomia Acquisition  
Schedule of purchase price to asets and liabilities

Fair value of purchase consideration

 

 

 

Cash consideration

 

$34,919,000

 

Equity in subsidiary issued (noncontrolling interest)

 

 

2,990,000

 

Seller bridge loans

 

 

15,451,000

 

Total fair value of consideration

 

$53,360,000

 

 

 

 

 

 

Fair value of assets acquired and liabilities assumed:

 

 

 

 

Cash and cash equivalents

 

$739,000

 

Accounts receivable

 

 

3,430,000

 

Inventories

 

 

13,040,000

 

Prepaid and other

 

 

1,773,000

 

Property and equipment

 

 

11,453,000

 

Intangible assets

 

 

26,870,000

 

Equity method investment

 

 

167,000

 

Finance lease - right of use assets

 

 

22,000

 

Operating lease - right of use assets

 

 

34,289,000

 

Other assets

 

 

1,094,000

 

Total assets acquired

 

 

92,877,000

 

 

 

 

 

 

Accounts payable

 

 

2,064,000

 

Accrued expenses

 

 

2,974,000

 

Finance lease liabilities - current

 

 

13,000

 

Operating lease liabilities - current

 

 

945,000

 

Finance lease liabilities - long-term

 

 

9,000

 

Operating lease liabilities - long-term

 

 

33,344,000

 

Deferred tax liabilities

 

 

10,290,000

 

Total liabilities assumed

 

 

49,639,000

 

Net identifiable assets acquired

 

 

43,238,000

 

Goodwill

 

 

10,122,000

 

Total consideration transferred

 

$53,360,000

 

Unaudited pro forma information

Revenue, net

 

$14,173,000

 

Net Income

 

 

2,377,000