Stran & Company (SWAG) has issued an update.
Stran Loyalty Solutions, LLC acquired nearly all assets of Bangarang Enterprises as part of a secured party sale, paying $1.1 million in cash and taking on about $5.5 million in liabilities. A release agreement was also signed, ensuring Bangarang would wind down its operations and transfer any remaining assets. This strategic move, detailed in a press release on August 26, 2024, aims to consolidate Stran’s market position, though it comes with the usual caveats of forward-looking statements, warning investors of the inherent risks and uncertainties in financial projections.
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