EVO Transportation & Energy Services, Inc. (OTCPK:EVOA) acquired all of the issued and outstanding equity interests in Ritter Transportation Systems, Inc. and Ritter Transport, Inc. from Michael Ritter and Matthew Ritter for $13.7 million on September 16, 2019. The purchase price is to be paid in cash is subject to a customary working capital adjustment. Michael Ritter receives $0.17 million for Ritter Transportation Systems, Inc. and $6.7 million for Ritter Transport, Inc. Similarly, Matthew Ritter receives $0.17 million for Ritter Transportation Systems, Inc. and $6.7 million for Ritter Transport, Inc. respectively. In related transactions, EVO Transportation & Energy Services, Inc., entered into a stock exchange agreement to acquire John W. Ritter, Inc. and a membership interest purchase agreement to acquire Johmar Leasing Company, LLC. The acquisition was funded through concurrent closing of a $24.5 million credit facility with Antara Capital LP and its affiliates. Upon completion, Ritter Transportation Systems, Inc. and Ritter Transport, Inc. will operate as a wholly owned subsidiary of EVO Transportation & Energy Services, Inc. The transaction is subjected to third part approval, execution of employment agreement and written resignations of the officers and members of the board of directors of Ritter Transportation Systems, Inc. and Ritter Transport, Inc. Michael Mercurio and Brent Salmons of Offit Kurman, Attorneys At Law acted as legal advisers to Michael Ritter and Matthew Ritter. Frank B. Bennett and Patrick Seul of Fredrikson & Byron P.A. acted as legal advisers to EVO Transportation & Energy Services, Inc. Craig-Hallum Capital Group LLC acted as financial advisor to EVO Transportation & Energy Services, Inc. EVO Transportation & Energy Services, Inc. (OTCPK:EVOA) completed the acquisition of Ritter Transportation Systems, Inc. and Ritter Transport, Inc. from Michael Ritter and Matthew Ritter on September 16, 2019.