Aterian Seeks Shareholder Approval for Asset Sale and Financing
Aterian Inc. is seeking shareholder approval to sell substantially all of its operating assets to Trademark Global LLC for a base purchase price of $18 million in cash. The asset sale includes several of the company's marquee consumer brands, including Mueller Living, PurSteam, hOmeLabs, Squatty Potty, Healing Solutions, and Photo Paper Direct.
In a separate but related agreement, Aterian has secured $7 million in preferred-stock financing from investor David E. Lazar. This investment is structured as a private placement of convertible preferred stock in two tranches, with the second closing contingent upon shareholder approval of the asset sale.
Key Takeaways
- Aterian plans to sell its marquee e-commerce brand portfolio to Trademark Global for $18 million in cash.stocktitan.net+1investing.com
- The divestiture includes brands such as Mueller Living, PurSteam, hOmeLabs, Squatty Potty, Healing Solutions, and Photo Paper Direct.stocktitan.netinvesting.com
- Investor David E. Lazar is providing $7 million in convertible preferred-stock financing in two tranches.stocktitan.net+1investing.com
- The estimated distributable net proceeds to shareholders are between $0.85 and $1.14 per share.stocktitan.net
Sources
Aterian Inc. Preliminary Revised Proxy Statement
Stock Titan
“The asset sale is subject to customary adjustments and contribution margin tests.”
Aterian to sell brand portfolio for $18M, secures $7M investment
Investing.com
“The $7 million private placement is divided into two tranches of $3.5 million each.”
Aterian Inc. Merger Proxy Statement
Stock Titan
“The Board is asking shareholders to approve an $18 million asset sale to Trademark Global and a $7 million investment from David Lazar.”