09/16/2025 | Press release | Distributed by Public on 09/16/2025 08:41
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed in the Current Report on Form 8-K filed with the Securities and Exchange Commission on August 1, 2025, Innovative Food Holdings, Inc., a Florida corporation, through its subsidiary Innovative Food Properties LLC, a Delaware limited liability company ("Innovative Properties"), entered into an Agreement of Purchase and Sale, dated July 28, 2025 (the "Original Agreement"), with Mountaintop Holdings, LLC, a New York limited liability company ("Mountaintop Holdings," together with Innovative Properties, the "Parties"). Pursuant to the Original Agreement, Innovative Properties agreed to sell certain real property with improvements and certain personal property, contracts and intangibles of Innovative Properties to Mountaintop Holdings for a total purchase price of $9,725,000, payable in three tranches.
On September 11, 2025, the Parties entered into First Amendment to Agreement of Purchase and Sale (the "First Amendment") to extend the inspection period, which expires on September 11, 2025 under the Original Agreement, to expire on September 29, 2025, in exchange for an additional earnest money deposit in the amount of $100,000 to be made by Mountaintop Holdings.
The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the First Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.