Sadot signs LOI to sell Pokemoto, Muscle Maker Grill chains for $4.25M

Sadot (SDOT) Group signed a letter of intent to sell its Pokemoto and Muscle Maker Grill restaurant chains, fully divesting all restaurant assets. The LOI, which contains a $100,000 deposit, outlines the terms and conditions of the transaction and reflects mutual interest by both parties to finalize the transaction with urgency, anticipated to be completed over the next 30-45 days or sooner. The transaction calls for a total purchase price of $4.25M consisting of $2.5M in cash at closing and the remaining $1.75M carried by Sadot as secured notes. Terms of the interest-bearing notes includes payment terms over 72 months. This LOI includes a deposit expressing the confidence of closing the transaction. Completion of the transaction is subject to customary closing conditions, finalization of definitive agreements and any remaining due diligence of which there is no guarantee. The Company expects to finalize the transaction over the next 30-45 days or sooner. Sadot Group remains committed to keeping shareholders informed throughout the process and will provide updates as material developments occur.