Channel Key, LLC acquired substantially all of the assets from Kaspien Holdings Inc. (OTCPK:KSPN) for $0.725 million on June 6, 2023. The consideration for the sale consisted of the base purchase price of $0.2 million, paid in cash, plus the assumption of certain liabilities. Kaspien Inc. will also be entitled to an earnout payment equal to 50% of the Total Revenue that Channel Key earns for each quarter in the 12-month period immediately following the closing of the Transaction, up to a maximum aggregate amount of $0.525 million.

Channel Key, LLC completed the acquisition of substantially all of the assets from Kaspien Holdings Inc. (OTCPK:KSPN) on June 6, 2023.