Affinity purchase and rebrand for Stark Novus Financial (SNFI)
Rhea-AI Filing Summary
Stark Novus Financial Inc., formerly Nu Ride Inc., completed the acquisition of Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC through its wholly owned subsidiary, Affinity Advisory Holdings Corp. The consideration includes a cash payment at closing of $6,720,000 (subject to customary adjustments), 80,000 shares of Class A common stock and Buyer common stock equal to 15% of the Buyer’s issued and outstanding shares immediately after closing. The sellers may also receive a contingent earnout of up to $1,312,000 plus interest, payable in up to three annual installments of approximately $437,333 each, if specified insurance-writing thresholds are met.
On July 21, 2026, the company changed its name from Nu Ride Inc. to Stark Novus Financial Inc. via a Certificate of Amendment, and updated its Third Amended and Restated Bylaws solely to reflect the name change. The Class A common stock is expected to begin trading on the OTC under the ticker symbol SNFI, with the CUSIP number remaining unchanged. Required financial statements and pro forma financial information for the acquired business will be provided in a later amendment within 71 days.
Positive
- None.
Negative
- None.
8-K Event Classification
4 items: 2.01, 5.03, 8.01, 9.01
4 items
Item 2.01
Completion of Acquisition or Disposition of Assets
Financial
The company completed a significant acquisition or sale of business assets.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Cash consideration at closing: $6,720,000
Equity consideration in Class A shares: 80,000 shares
Buyer equity issued to sellers: 15%
+3 more
6 metrics
Cash consideration at closing
$6,720,000
Cash payment at closing for the Affinity acquisition, subject to customary adjustments
Equity consideration in Class A shares
80,000 shares
Shares of Stark Novus Financial Class A common stock issued as part of purchase price
Buyer equity issued to sellers
15%
Buyer common stock equal to 15% of Buyer’s issued and outstanding shares after closing
Maximum contingent earnout
$1,312,000
Potential additional consideration payable to Affinity sellers if insurance-writing thresholds are met
Annual earnout installment
$437,333
Approximate amount of each of up to three annual earnout installments plus accrued interest
Deadline for amendment filing
71 days
Time allowed to file Affinity financial statements and pro forma financial information after report due date
Key Terms
Membership Interest Purchase Agreement, contingent earnout payment, Certificate of Amendment, Third Amended and Restated Bylaws, +1 more
5 terms
Membership Interest Purchase Agreement regulatory
"The Membership Interest Purchase Agreement for the transaction was originally signed on June 2, 2026."
A membership interest purchase agreement is a contract used when someone buys an ownership stake in a limited liability company (LLC). It spells out what is being sold, the price, any promises about the business’s condition, and who takes responsibility for debts or legal issues—like a receipt and rulebook for the sale. Investors care because it transfers control, affects future cash flow and liabilities, and can change the value and tax treatment of their investment.
contingent earnout payment financial
"The Sellers are also eligible to receive a contingent earnout payment of up to $1,312,000."
Certificate of Amendment regulatory
"the Company filed ... a Certificate of Amendment to the Company’s Third Amended and Restated Certificate."
A certificate of amendment is an official filing that updates a company’s founding documents—its legal “rulebook” that sets share structure, voting rules, name and basic purpose. Think of it like changing the blueprint of a building: small changes are paperwork, big ones can alter who owns how much and who controls decisions. Investors watch these filings because they can affect share counts, voting power, dilution and company value.
Third Amended and Restated Bylaws regulatory
"The Company’s board of directors also adopted the Third Amended and Restated Bylaws of the Company."
pro forma financial information financial
"The pro forma financial information required by Item 9.01(b) ... will be filed by an amendment."
Pro forma financial information are adjusted financial numbers that show how a company’s results might look after a specific event or after removing one-time items, like a cleaned-up or “what if” version of its earnings. Investors use these figures to compare performance, judge future profitability, or evaluate the impact of mergers, restructurings or large transactions, but they require scrutiny because adjustments can make results look rosier than standard accounting statements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What acquisition did NRDE complete on July 15, 2026?
Stark Novus Financial completed the acquisition of Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC through its subsidiary Affinity Advisory Holdings Corp., expanding its business by purchasing all membership interests in the Affinity entities.
What is the total consideration NRDE is paying for Affinity Advisory?
The deal includes $6,720,000 cash at closing (subject to adjustments), 80,000 Class A shares of Stark Novus Financial and Buyer common stock equal to 15% of the Buyer’s issued and outstanding shares immediately following closing, plus a potential earnout.
How does the earnout for the Affinity sellers work in the NRDE transaction?
Affinity’s sellers may receive a contingent earnout of up to $1,312,000 plus interest, payable in up to three annual installments of about $437,333 each, if specified insurance-writing thresholds are achieved after closing.
What corporate name and ticker changes are disclosed for NRDE?
The company changed its name from Nu Ride Inc. to Stark Novus Financial Inc. and its Class A common stock is expected to begin trading on the OTC under the new ticker symbol SNFI, while the existing CUSIP number will remain the same.
When will NRDE provide Affinity’s financial statements and pro forma information?
Stark Novus Financial plans to file the acquired business’s financial statements and required pro forma financial information in an amendment no later than 71 days after the date the current report was required to be filed.
What governance documents did NRDE amend in connection with the name change?
The company filed a Certificate of Amendment to its Third Amended and Restated Certificate of Incorporation to change its name and adopted Third Amended and Restated Bylaws revised solely to reflect the new corporate name, Stark Novus Financial Inc.