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Aterian, Inc. (NASDAQ:ATER) is one of the top 10 hot penny stocks to buy now. Aterian, Inc. (NASDAQ:ATER) announced on April 28 separate transactions related to its previously announced Strategic Alternative Process. It stated that it signed a definitive agreement with Trademark Global, LLC for the sale of assets associated with its marquee brands: Mueller Living, hOmeLabs, PurSteam, Squatty Potty, Photo Paper Direct, and Healing Solutions. Headquartered in Lorain, Ohio, and founded in 1999, Trademark Global is a privately held, data-driven consumer brand and e-commerce supply chain platform.
The company further stated that under the terms of the purchase agreement for the Asset Sale, Trademark will acquire the global business of sourcing, marketing, and selling products under these labels, in addition to the applicable brand’s assets, which include inventory, and assuming certain liabilities. Trademark is also anticipated to onboard a majority of Aterian, Inc.’s (NASDAQ:ATER) employees who are dedicated to supporting these brands. Management reported that the base purchase price for the Asset Sale is $18 million in cash, adding that it is subject to adjustment for net working capital and other transaction-related costs.
Aterian, Inc. (NASDAQ:ATER) is a technology-enabled consumer products company. Its product categories include kitchenware, home and kitchen appliances, environmental appliances, beauty-related products, and consumer electronics.
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