Summary by Futu AI
On January 4, 2024, INNO Holdings Inc. completed a significant real estate transaction by entering into a Purchase Agreement with Pomona Office Tower, LLC and WG Kupka, LLC. The agreement involved the acquisition of approximately 120,776 square feet of office space located in Pomona, California, for a total purchase price of $14.6 million. INNO Holdings made an initial deposit of $440,000 into escrow, with the potential for it to become non-refundable under certain conditions. Additionally, the company is required to either assume an existing promissory note with a balance of $9.69 million or seek alternative financing within 45 days of escrow opening. This note is part of the overall purchase price and was originally issued by German American Capital Corporation to the seller. The remaining balance of the purchase price will be paid by INNO Holdings prior to the closing of the transaction. The details of the Purchase Agreement have been included as Exhibit 10.1 in the company's current report on Form 8-K filed with the SEC.
