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Explanatory Note This Form 8-K reports the execution of a Share Exchange Agreement between Sentient Brands Holdings Inc. and Wyoming Bears, Inc.
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K/A
(Amendment No. 6)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
September 3, 2024
SENTIENT
BRANDS HOLDINGS INC.
(Exact name of registrant
as specified in its charter)
(Former Name of Registrant)
| Nevada |
|
001-34861 |
|
86-3765910 |
| (State
or Other Jurisdiction of Incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer Identification Number) |
110 East 59th Str. 22nd Floor
New York, New York 10022
(Address of principal executive offices) (zip code)
646-202-2897
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
| None |
N/A |
N/A |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Explanatory Note
This Form 8-K reports the execution of a Share Exchange Agreement between
Sentient Brands Holdings Inc. and Wyoming Bears, Inc.
Item 1.01 Entry Into A Material Definitive Agreement
On September 30, 2025, Sentient
Brands Holdings Inc. (“SNBH”), through its 51%-owned subsidiary Wyoming Bears, Inc. (“Subsidiary”), entered into
a Share Exchange Agreement (the “Agreement”) with the minority shareholders of the Subsidiary (collectively, the “Sellers”)
who own and control several assets and lines of business of interest to the Company, pursuant to which Subsidiary will acquire many of
those assets and rights of Sellers in exchange for acquisition credits, to be ultimately paid by the exchange of those credits for shares
of common stock of SNBH (the “Acquisition Credits”). These Acquisition Credits will be issued by SNBH to Sellers and/or their
designees (“Shareholders”) in accordance with an Earnout Schedule (as defined below) set forth in the Exchange Agreement (the
“Exchange Agreement”).
Pursuant to the Agreement, the
Subsidiary will acquire certain rights and assets of the Sellers, including inventory, machinery, receivables, licensing rights, brands,
and other tangible and intangible assets, in exchange for Acquisition Credits, ultimately convertible into shares of SNBH common stock.
The consideration structure is based on an Earnout Schedule tied to (i) annual revenue growth, (ii) EBITDA, or (iii) appraised asset value,
calculated on a 70% performance basis and adjusted by SNBH’s 51% ownership interest in the Subsidiary. Acquisition Credits issued
under this structure may be converted into shares of SNBH common stock following applicable holding periods and subject to Lock-Up Agreements.
Wyoming Bears, Inc., a Nevada-based
Company, is a specialized brand manager and distributor of food, beverage, first aid, and pet care products, with a sales force and operations
reaching over 22 countries, including the US, Canada, Mexico, Europe, South Korea, and the Asia Pacific Region. The Company is the exclusive
worldwide distributor (with the exception of the US) for the Original New York Seltzer® brand, among many others, and provides
distribution into some of the largest retail chains internationally.
The Sellers and SNBH have also
agreed to mutual rights of first refusal with respect to the minority equity positions in the Subsidiary, exercisable after the 18th month
of the acquisition program. Buyout pricing will be determined at 0.7x revenue multiples prior to 60 months and 1.25x revenue multiples
thereafter, prorated to the ownership interest of the minority shareholders.
The Agreement contains customary
representations, warranties, covenants, and conditions for a transaction of this type, including compliance with U.S. securities laws,
investment intent certifications, indemnification provisions, and lock-up/leak-out restrictions.
The foregoing information is
a summary of each of the agreements involved in the transactions described above, is not complete, and is qualified in its entirety by
reference to the full text of those agreements, each of which is attached an exhibit to this Current Report on Form 8-K. Readers should
review those agreements for a complete understanding of the terms and conditions associated with this transaction.
The representations, warranties,
and covenants contained in the Exchange Agreement were made only for purposes of such agreement and as of specific dates, were solely
for the benefit of the parties to the Exchange Agreement, and may be subject to limitations agreed upon by the contracting parties. Accordingly,
the Exchange Agreement is incorporated herein by reference only to provide investors with information regarding the terms of the Exchange
Agreement, and not to provide investors with any other factual information regarding the Company, or either of their businesses, and should
be read in conjunction with the disclosures in the Company’s periodic reports and other filings with the Securities and Exchange
Commission.
Forward-Looking Statements
This Form 8-K/A includes forward-looking
statements that involve risks and uncertainties. Forward-looking Statements are statements that are not historical facts. Such forward-looking
statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These
forward-looking statements and factors that may cause such differences include, without limitation, the risks and uncertainties indicated
from time to time in the Company’s filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with
respect thereto or any change in events conditions or circumstances on which any statement is based.
Item 9.01 Financial Statements and Exhibits
| Exhibit Number |
|
Description |
| |
|
|
| 10.18 |
|
Share Exchange Agreement dated September 30, 2025, by and among Sentient Brands Holdings Inc., Wyoming Bears, Inc., and the minority shareholders of Wyoming Bears, Inc. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
SENTIENT BRANDS HOLDINGS INC. |
| |
|
|
| Date: October 02, 2025 |
By: |
/s/ George Furlan |
| |
|
George Furlan |
| |
|
Chief Executive Officer |