EZFill Holdings, Inc. Acquires Assets in $2 Million Deal with Yoshi, Inc.

EZFill Holdings, Inc. (NASDAQ:EZFL) recently announced that the company has entered into an Asset Purchase Agreement (APA) with Yoshi, Inc., a Delaware-based limited liability company specializing in mobile fueling operations. The agreement, dated November 18, 2024, involves the acquisition of specific assets belonging to Yoshi, Inc.

As per the terms of the agreement, EZFill Holdings, Inc. will purchase certain assets, including equipment, contracts, and other tangible personal property owned by Yoshi, Inc. and used in its business operations. The total consideration for this transaction amounts to $2,000,000, subject to adjustments outlined in the APA.

The Purchase Price will be distributed as follows: $1,250,000 in cash will be paid to the Seller by December 2, 2024; $500,000 will be settled through the issuance of EZFill Holdings, Inc. common stock to Yoshi, Inc., with the number of shares determined by the closing price on the Nasdaq Capital Market on the last trading date preceding December 2, 2024. The remaining $250,000 will be covered by a promissory note from the Buyer, to be paid within six to nine months after the closing date.

The APA includes standard representations, warranties, and covenants as well as indemnification provisions by both parties. The specific details of the transaction are outlined in the APA, which is available as Exhibit 10.1 in the filing.

Simultaneously, in compliance with Item 3.02, information regarding the unregistered sales of equity securities is incorporated from Item 1.01 of the filing.

The filing also covers Item 9.01, including the Exhibit listing. Exhibit 10.1 showcases the Asset Purchase Agreement between EZFill Holdings, Inc. and Yoshi, Inc., while Exhibit 104 contains the Cover Page Interactive Data File.

EZFILL HOLDINGS, INC. declared itself as an emerging growth company, classifying under Rule 405 of the Securities Act of 1933 with an elected waiver from using the extended transition period for adhering to new financial accounting standards, as per Rule 12b-2 of the Securities Exchange Act of 1934.

The signing of the report on behalf of EZFill Holdings, Inc. was carried out on November 22, 2024, by Yehuda Levy, the Interim Chief Executive Officer, indicating the completion of this significant asset acquisition deal.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EZFill’s 8K filing here.

About EZFill

EZFill Holdings Inc operates as a mobile fueling company primarily in Florida. It offers on-demand fueling services to consumer, fleet, marine, and other specialty markets. The company was incorporated in 2019 and is based in Miami, Florida.