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    SOUPQ   US8361191070

SOUPMAN, INC.

(SOUPQ)
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WealthColony Management Group LLC completed the acquisition of to acquire substantially all assets of Soupman, Inc. (OTCPK:SOUP.Q).

09/08/2017 EDT

WealthColony Management Group LLC won an auction to acquire substantially all assets of Soupman, Inc. (OTCPK:SOUP.Q) for $6.7 million on August 28, 2017. WealthColony Management Group LLC entered into an asset purchase agreement to acquire substantially all assets of Soupman, Inc. on August 30, 2017. WealthColony Management Group LLC entered into an amended asset purchase agreement to acquire substantially all assets of Soupman, Inc. for $6.7 million on September 6, 2017. The consideration would be satisfied in cash and the assumption of certain specified liabilities. WealthColony Management Group will pay $2 million in cash and will assume $4.77 million in liabilities of Soupman. The deal is subject to bankruptcy court approval, governmental approvals and third party approvals. The deal is approved by order of the bankruptcy court on September 7, 2017. The proceeds of the deal are used in part to pay in full the $1.7 million outstanding under the Soupman’s debtor-in-possession financing facility. Phillip D. Forlenza of Giordano Halleran & Ciesla and Henry Kevane and Colin R. Robinson of Pachulski Stang Ziehl & Jones LLP acted as legal advisors for WealthColony Management Group. Jeremy R. Johnson, Christopher A. Ward and Jarrett Vine of Polsinelli PC acted as legal advisors for Soupman. WealthColony Management Group LLC completed the acquisition of to acquire substantially all assets of Soupman, Inc. (OTCPK:SOUP.Q) on September 8, 2017.


© S&P Capital IQ 2017
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2017Motion for Asset Sale Approved for The Original Soupman, Inc.
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2017WealthColony Management Sends Letter to the CEO of Soupman
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2017WealthColony Management Provides Information to Shareholders of Soupman
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Managers and Directors
Michael Wyse Chief Financial & Restructuring Officer
Daniel A. Rubano Senior VP-Operations & Franchise Development
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