Live Ventures Incorporated acquired ApplianceSmart, Inc from Appliance Recycling Centers of America, Inc. for $6.5 million.
Live Ventures Incorporated (NasdaqCM:LIVE) completed the acquisition of ApplianceSmart, Inc from Appliance Recycling Centers of America, Inc. (NasdaqCM:ARCI) on December 30, 2017. A portion of purchase price was delivered to Appliance Recycling Centers of America prior to March 31, 2018. Between March 31, 2018 and April 24, 2018, Live Ventures and Appliance Recycling Centers of America negotiated in good faith the method of payment of the remaining outstanding balance of the purchase price. On April 25, 2018, Live Ventures delivered to Appliance Recycling Centers of America that certain promissory note in the original principal amount of $3.9 million. The remaining $2.6 million of the purchase price was paid in cash.