10:03 AM EDT, 03/28/2024 (MT Newswires) -- Arko ( ARKO ) said Thursday that it negotiated "improved" deferred payment terms related to its acquisition of Transit Energy Group in March last year.

The company said it signed an amendment to the original purchase agreement, allowing it to repurchase the 3.4 million common shares issued to Transit Energy Group as first installment payment at $5.66 per share, representing a 22.6% discount to the shares' issuance price.

Arko ( ARKO ) said the amended deal also lowers the second $25 million installment payment to approximately $17.2 million in cash. According to the company, the amendments reduced the $50 million deferred purchase price to $36.5 million and allowed for the release of certain obligations and liabilities.

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