|
Quotes & Info
|
| STRN > SEC Filings for STRN > Form 8-K on 30-May-2012 | All Recent SEC Filings |
30-May-2012
Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition
As previously disclosed in its Current Report on Form 8-K filed on May 4, 2012, on April 30, 2012, Sutron Corporation ("Sutron") entered into an asset purchase agreement (the "Agreement") by and among Sutron, IPS MeteoStar, Inc. ("IPSM"), Information Processing Systems of California, Inc. ("IPS"), Clarence L. Boice and Shirley H. Boice to acquire substantially all of the commercial and operating assets of IPSM for a cash purchase price of $4,175,000 and the assumption of certain liabilities of up to $175,000, subject to a partial escrow to secure certain representations and warranties. The Closing of the Agreement was subject to customary conditions, including receipt of consents from third parties. On May 23, 2012, Sutron consummated the closing of the Agreement.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, which was filed as Exhibit 2.1 to the Form 8-K filed by Sutron on May 4, 2012 and is incorporated by reference herein.
As described in "Item 1.01. Entry into a Material Definitive Agreement" of this report, on May 23, 2012, Sutron completed the acquisition of substantially all the commercial and operating assets of IPSM. The information set forth under "Item 1.01. Entry into a Material Definitive Agreement" in this report is incorporated herein by reference.
On May 24, 2012, Sutron Corporation issued a news release regarding the closing of the acquisition of substantially all of the commercial and operating assets of IPSM. The news release is filed as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits
Exhibit 99.1 - News Release of Sutron Corporation dated May 24, 2012
|
|