BOSTON OMAHA CORPORATION (NASDAQ:BOMN) Files An 8-K Financial Statements and ExhibitsItem 9.01 of this Form 8-K/A.
The Initial 8-K provided disclosure under Item 2.01 thereof regarding the February 16, 2016 closing of the Company’s acquisition of certain billboards and related assets on February 16, 2016. On that date, Link Media Wisconsin, LLC, which is owned by Link Holdings, LLC, our subsidiary, entered into an Asset Purchase Agreement with Jag, Inc. and the sole voting shareholder of Jag, Inc., by which Link Media Wisconsin, LLC acquired 422 billboards, certain directional signs and other related assets from Jag, Inc. The billboards, directional signs and related assets are located in Wisconsin. The purchase price for the acquired assets was $6,954,246, of which $687,500 was placed in escrow and the remainder was paid at closing. The purchase price is subject to certain post-closing working capital adjustments.
Item 9.01 of Form 8-K provides that with respect to transactions described to Item 2.01 of Form 8-K, the financial statements of businesses acquired may be filed, and pro forma financial information regarding such transactions may be furnished, not later than 71 calendar days after the date that the initial report on Form 8-K must be filed. As such, the Company disclosed in the Initial 8-K that it would file the required financial statements and furnish the required pro forma financial information within that time frame. The preparation of such financial statements and pro forma financial information took longer than the Company anticipated, due principally to delays in obtaining necessary information and supporting documents from the seller.
The Company is now providing audited financial statements for Jag, Inc. for the year ended December 31, 2015, as well as the unaudited proforma combined balance sheet and unaudited pro forma combined statement of operations for Boston Omaha Corporation and Jag, Inc. for the year ending December 31, 2015.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of businesses acquired. The audited financial statements of Jag, Inc. for the year ended December 31, 2015, are filed herewith as Exhibit 99.1.
(b) Pro forma financial information. The unaudited pro forma combined balance sheet and unaudited pro forma combined statement of operations for Boston Omaha Corporation and Jag, Inc. for the year ended December 31 2015, are filed herewith as Exhibit 99.2.
(c) Shell Company Transaction.
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