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ACQUISITIONS (Tables) | 9 Months Ended
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Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisition | The following table summarizes the preliminary fair value assigned to the assets acquired and liabilities assumed at the acquisition date of February 1, 2024.
($ in thousands) | Amount
Cash and cash equivalents | $ | 84 |
Property and equipment, net | 1,160 |
Intangible assets | 2,600 |
Other assets | 381 |
Total identifiable assets acquired | 4,225 |
Accounts payable | (442) |
Other liabilities | (52) |
Total liabilities assumed | (494) |
Total identifiable net assets | 3,731 |
Goodwill | 1,105 |
Fair value of total consideration transferred | $ | 4,836 |
The estimated fair value of the purchase price consideration consisted of the following:
($ in thousands) |
Closing cash consideration | $ | 36,605 |
Stock consideration | 4,506 |
Fair value of total consideration transferred | $ | 41,111 |
The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of December 1, 2023.
($ in thousands) | Amount
Cash and cash equivalents | $ | 391 |
Accounts receivable | 1,780 |
Inventories | 2,011 |
Intangible assets | 15,538 |
Other assets | 629 |
Total identifiable assets acquired | 20,349 |
Accounts payable | (2,410) |
Tax liabilities | (3,033) |
Total liabilities assumed | (5,443) |
Total identifiable net assets | 14,906 |
Goodwill | 26,205 |
Fair value of total consideration transferred | $ | 41,111 |
The following table summarizes the total consideration paid for Yoke, total net assets acquired, identifiable assets and goodwill recognized at the acquisition date:
($ in thousands) | Amount
Consideration |
Cash | $ | 2,966 |
Contingent consideration arrangement | 1,000 |
Fair value of total consideration transferred | 3,966 |
Recognized amounts of identifiable assets |
Total net assets acquired | 21 |
Identifiable intangible assets | 1,235 |
Total identifiable net assets | 1,256 |
Goodwill | $ | 2,710 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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