DealsAug 5, 2026, 05:29 PM
AMASS Brands Terminates Wine Purchase Deal, Settles for $427K
AI Summary
AMASS Brands Inc. entered into a Side Letter Agreement with Full Glass Wine Co., LLC and Full Glass – Licensing, LLC, modifying and terminating a Multi-Year Wine Purchase Agreement. The original agreement for $4,000,000 in wine purchases was replaced with a $427,000 settlement. A $406,000 portion of this settlement can be applied to redeem AMASS's equity in Full Glass Wine Co. at $8.77 per unit, either in conjunction with future wine purchases or exclusively for equity redemption. The agreement also includes provisions for late payment fees and a clause regarding a potential future sale of Full Glass Wine Co.
Key Highlights
- Original Multi-Year Wine Purchase Agreement obligated Full Glass to purchase $4,000,000 of wine inventory.
- Side Letter Agreement replaces obligation with a $427,000 settlement amount.
- Remaining balance of $31,750 is due by July 31, 2026, for wine inventory release.
- A $406,000 deposit can be applied to equity redemption at $8.77 per unit, with or without future wine purchases.
- Option 1 involves purchasing 135,333.33 gallons of wine for $676,666.66, with $270,666.66 cash and $406,000 from deposit.
- Late installment payments incur a $10,000 fee and a 7-day cure period.
- Original Multi-Year Wine Purchase Agreement terminated effective July 29, 2026.
Price Impact
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