AcquisitionsMay 14, 2026, 08:07 AM
Off The Hook YS Completes Apex Marine Acquisition for $5.97M
AI Summary
Off The Hook YS Inc. completed the acquisition of Apex Marine Companies for an aggregate purchase price of $5,966,667. The payment included $1.2 million in cash, $1.8 million in common stock (679,012 shares), and $2,966,667 through two promissory notes. This strategic acquisition provides Off The Hook with premier South Florida marine service, storage, and sales operations, enhancing operational efficiency, refurbishment capacity, and global sales reach, and is expected to generate millions in annual cost savings.
Key Highlights
- Off The Hook YS Inc. completed the acquisition of Apex Marine Companies for $5,966,667.
- The purchase price included $1.2 million in cash.
- 679,012 shares of common stock, valued at $1.8 million, were issued.
- Two promissory notes totaling $2,966,667 were issued as part of the payment.
- The acquisition provides strategically located South Florida marine service, storage, and sales operations.
- It is expected to generate millions of dollars in annual cost savings and improve operational efficiency.
- The $2,466,667 promissory note bears 6.0% interest and is due in 24 monthly payments.