AcquisitionsAug 11, 2026, 05:18 PM
Onar extends Advertise Purple acquisition deadline; cash consideration $12.8M
AI Summary
Onar Holding Corp. has entered into Amendment No. 2 to its Letter of Intent for the proposed acquisition of Advertise Purple, Inc. This amendment grants Onar the right to extend the acquisition's 'Outside Date' to September 28, 2026, by making a $250,000 payment by August 27, 2026. If the extension is exercised, the cash consideration payable at closing will increase to $12,825,000, with the total $1,250,000 down payment credited against the purchase price.
Key Highlights
- Onar Holding Corp. has the option to extend the acquisition deadline for Advertise Purple to September 28, 2026.
- This extension requires a $250,000 'Second Down Payment' to Advertise Purple by August 27, 2026.
- If the option is exercised, the total down payment will be $1,250,000.
- The cash consideration payable at the closing of the transaction will increase to $12,825,000.
- The $1,250,000 total down payment will be credited against the final purchase price.
- The Definitive Agreement for the acquisition has not yet been executed and is not binding.
Price Impact
More from ONAR