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| ADG > SEC Filings for ADG > Form 8-K on 10-Aug-2009 | All Recent SEC Filings |
10-Aug-2009
Completion of Acquisition or Disposition of Assets, Financial Statements
On August 7, 2009, The Allied Defense Group, Inc. (the "Company") completed the sale of its NS Microwave subsidiary ("NSM") to 3DRS International, Inc. ("3DRS"). The sale was completed in accordance with the terms and conditions of the Stock Purchase Agreement dated as of August 7, 2009, a copy of which is furnished as Exhibit 2.1.
In the sale, the Company received $400 thousand in cash at closing and a promissory note in the amount of $1.325 million. The note is due 24 months after closing and is subject to a reduction based on certain terms as defined in the purchase agreement.
The foregoing description of the Stock Purchase Agreement does not purport to be complete and is qualified in its entirety by the terms of the Stock Purchase Agreement.
A copy of the press release the Company issued to announce the closing of the transaction is furnished as Exhibit 99.1.
(d) Exhibits
2.1 Stock Purchase Agreement dated as of August 7, 2009.
99.1 Press Release of the Company dated August 10, 2009.
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