M&A - ASURE SOFTWARE INC

Form Type: 8-K

Filing Date: 2025-07-01

Corporate Action: Acquisition

Type: New

Accession Number: 000088414425000078

Filing Summary: On July 1, 2025, Asure Software, Inc. acquired 100% of Lathem Time 2025, LLC from Pendulum Holding, Inc. for $39.5 million, subject to adjustments based on working capital and inventory costs. The acquisition agreement includes customary provisions for confidentiality, non-competition, and indemnification. Additionally, the Company entered into an amendment to its Credit Agreement, which includes Lathem as a guarantor and increases the minimum liquidity threshold from $6.0 million to $7.5 million. The amendment also escalates the final payment fee to lenders under the Credit Agreement.