ENDI Corp (ENDI)

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On Friday, June 29, 2018, Purchaser, consistent with the terms of the Purchase Agreement, completed an additional acquisition from Seller of 69 residential real estate properties located in Lexington, Kentucky pursuant to the Purchase Agreement. This additional tranche of real properties was acquired for total consideration of $4,619,130, which was payable as follows:

by Purchaser’s assumption of $2,767,158 of outstanding indebtedness secured by the acquired real properties and relevant de minimis prorated expenses; and the balance by issuance to Seller of 18,519,720 shares of the Company’s common stock, all in accordance with the terms of the Purchase Agreement.

As a result of this second closing under the Purchase Agreement, Purchaser assumed $2,767,158 of outstanding indebtedness secured by the acquired real properties, along with all of Seller’s rights and ongoing obligations, as lessor/landlord, under all leases covering the acquired real properties.


https://www.sec.gov/Archives/edgar/data/1096934/000156459018016781/syte-8ka_20180110.htm