AcquisitionsJul 31, 2026, 04:42 PM
Cycurion Amends Acquisition Terms, Extends Closing to Sept 15
AI Summary
Cycurion, Inc. has amended its Asset Purchase Agreement with Kustom Entertainment, Inc. to acquire Kustom's video-solutions division. The amendment extends the anticipated closing date from July 15, 2026, to on or about September 15, 2026. As consideration for this extension, Cycurion made a $250,000 non-refundable cash payment and replaced 2,000,000 warrants with Series H Preferred Stock valued at $600,000, which accrues 12.0% annual dividends and is convertible at $1.45 per share. Both parties confirm that all conditions precedent have been met or waived, and they remain committed to completing the transaction.
Key Highlights
- Original Asset Purchase Agreement dated June 24, 2026, for Kustom Entertainment's video-solutions division.
- Amendment No. 1 and Forbearance / Extension Agreement signed July 23, 2026.
- Original closing date of July 15, 2026, extended to on or about September 15, 2026.
- Cycurion made an immediate, non-refundable cash payment of $250,000 to Seller for the extension.
- 2,000,000 warrants replaced with Series H Preferred Stock having an aggregate stated value of $600,000.
- Series H Preferred Stock accrues dividends at 12.0% per annum, payable quarterly.
- Series H Preferred Stock convertible into common stock at $1.45 per share.
- All conditions precedent for the acquisition have been satisfied or waived.
Price Impact
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