UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On September 15, 2023, Scott’s Liquid Gold-Inc., a Colorado corporation (the “Company”), and Neoteric Cosmetics, Inc., a Colorado corporation and wholly owned subsidiary of the Company (“Neoteric”), entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with Neoteric Beauty Holdings, LLC, a Delaware limited liability company (the “Neoteric Buyer”), pursuant to which the Company agreed to sell 100% of the outstanding stock of Neoteric to the Neoteric Buyer. Neoteric owns and operates the Denorex, Zincon, and Neoteric Diabetic brands. The transactions contemplated by the Stock Purchase Agreement were consummated on September 15, 2023. The closing consideration paid to the Company was $1,750,000, with an initial deposit of $175,000 paid on September 5, 2023.
Item 2.01. Completion of Acquisition or Disposition of Assets.
The description of the sale of Neoteric contained in Item 1.01 above is hereby incorporated by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SCOTT'S LIQUID GOLD-INC. |
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Date: |
September 20, 2023 |
By: |
/s/ David M. Arndt |
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David M. Arndt |
Document And Entity Information |
Sep. 15, 2023 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Sep. 15, 2023 |
| Entity Registrant Name | SCOTT'S LIQUID GOLD-INC. |
| Entity Central Index Key | 0000088000 |
| Entity Emerging Growth Company | false |
| Securities Act File Number | 001-13458 |
| Entity Incorporation, State or Country Code | CO |
| Entity Tax Identification Number | 84-0920811 |
| Entity Address, Address Line One | 8400 E. Crescent Parkway |
| Entity Address, Address Line Two | Suite 450 |
| Entity Address, City or Town | Greenwood Village |
| Entity Address, State or Province | CO |
| Entity Address, Postal Zip Code | 80111 |
| City Area Code | (303) |
| Local Phone Number | 373-4860 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | None |
| No Trading Symbol Flag | true |
| Security Exchange Name | NONE |