BRIEF-Arko Corp. Negotiates Enhanced Value For Stockholders In Final Payment For Teg Acquisition-February 2024-www.financetom.com

BRIEF-Arko Corp. Negotiates Enhanced Value For Stockholders In Final Payment For Teg Acquisition

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BRIEF-Arko Corp. Negotiates Enhanced Value For Stockholders In Final Payment For Teg Acquisition

Mar 28, 2024 4:21 AM

March 28 (Reuters) - Arko Corp. ( ARKO ):

* ARKO CORP. ( ARKO ) NEGOTIATES ENHANCED VALUE FOR STOCKHOLDERS IN

FINAL

PAYMENT FOR TEG ACQUISITION

* NEGOTIATED IMPROVED DEFERRED PAYMENT TERMS AND VALUE

RELATED TO

COMPANY'S PREVIOUSLY REPORTED ACQUISITION OF ASSETS OF TRANSIT

ENERGY

* AMENDMENT TO ORIGINAL PURCHASE AGREEMENT WITH TEG, FOR

ARKO'S

REPURCHASE OF FIRST INSTALLMENT SHARES AT $5.66/ SHARE, 22.6%

DISCOUNT

* ARKO AND TEG ALSO AGREED TO SETTLE SECOND $25 MILLION

INSTALLMENT PAYMENT FOR APPROXIMATELY $17.2 MILLION IN CASH

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