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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

21. Subsequent Events

 

The Company has evaluated events that have occurred subsequent to June 30, 2024 and through August 14, 2024, the date of the filing of this Report.

 

On August 13, 2024, the Company entered into a Membership Interest Purchase Agreement by and among Siebert Financial Corp., Gebbia Entertainment, LLC, a Florida limited liability company (“Gebbia Entertainment”), the Members of Gebbia Entertainment, LLC and, solely for the purposes of Section 5.1 and Article 7 John J. Gebbia and Gloria E. Gebbia (the “Gebbia Entertainment Purchase Agreement”), pursuant to which the Company acquired all of the outstanding equity of Gebbia Entertainment from the John J. and Gloria E. Gebbia Family Trust (99%) and David Gebbia (1%) for a purchase price of $1,250,000. Section 5.1 of the Gebbia Entertainment Purchase Agreement imposes certain restrictions on the sellers ability to compete with the Company for a period of two years, and Article 7 provides for certain indemnification obligations of the sellers. David Gebbia is the son of John J. and Gloria E. Gebbia.

 

Based on the Company’s assessment, other than the events described above, there have been no material subsequent events that occurred during such period that would require disclosure in this Report or would be required to be recognized in the financial statements as of June 30, 2024.