EVO Transportation & Energy Services, Inc. (OTCPK:EVOA) acquired Courtlandt and Brown Enterprises LLC and Finkle Transport Inc. from James Finkle, Jr. and Clifford Finkle, IV for $12 million on July 15, 2019. Pursuant to the agreement, the consideration consists issuance of 1.25 million shares of EVO Transportation common stock at a price per share of $2.5, $1.25 million in cash, $5.01 million in assumed indebtedness and an earnout of up to $2.61 million, which is payable in shares of EVO Transportation at a price per share of $2.5. The earnout will be calculated within thirty days of the first anniversary of the agreement and will equal three times EBITDA of Courtlandt and Finkle for the twelve months ended June 30, 2019 (subject to a cap of $12 million) minus the amounts paid at closing. The earnout will be paid within thirty days after the date that is twelve months from the date of this agreement. As a result of the transaction, Finkle and Courtlandt became wholly-owned subsidiaries of EVO Transportation. Under the terms of the agreement, James Finkle, Jr. and Clifford Finkle, IV, will be joining EVO as Vice Presidents of the Finkle operations. The transaction is subject to third party consents, employment agreements, resignation by Courtlandt and Finkle directors, approval by Board of EVO and subscription agreements. Matthew Savare of Lowenstein Sandler LLP acted as legal advisor to James C. Finkle and Clifford Finkle IV. Frank B. Bennett of Fredrikson & Byron, P.A. acted as legal advisor to EVO Transportation. EVO Transportation & Energy Services, Inc. (OTCPK:EVOA) completed the acquisition of Courtlandt and Brown Enterprises LLC and Finkle Transport Inc. from James Finkle, Jr. and Clifford Finkle, IV on July 15, 2019.