Asset Acquisitions

9 Months Ended

Sep. 30, 2020

Italy

On August 1, 2020, Motiva Italy S.r.l, a wholly owned subsidiary of the Company, entered into an asset purchase agreement with Orion Trading S.r.l, or the Italy Seller, to purchase certain assets from the Italy Seller. The assets purchased included all existing inventory previously sold by the Company to the Italy Seller and all customer relationships and contracts. The aggregate purchase price for the assets purchased was the aggregate sum of book value of the inventory at the time of the transaction estimated to be €0.7 million, or approximately $0.8 million, a cash payment of €0.3 million, or approximately $0.3 million, and, if applicable, a cash payment equal to the true-up value of the inventory not to exceed €0.1 million, or approximately $0.1 million.

The purchase price and allocation of purchase price were as follows:



Purchase Price:	(in thousands)
Cash consideration	$	340

Cash paid for inventory	807
Total purchase price	$	1,147



Allocation of Purchase Price:	(in thousands)
Inventory	$	1,009
Customer relationships	$	138
Total purchase price allocated	$	1,147

As of September 30, 2020, the Company has fully paid for the Italy asset acquisition.

Austria

On January 31, 2019, European Distribution Center Motiva BVBA, or EDC, entered into an asset purchase agreement with AFS Medical GMBH, or the Austria Seller, to purchase certain assets from the Austria Seller. The assets purchased included all existing inventory previously sold by the Company to the Austria Seller and all customer relationships and contracts. The aggregate purchase price for the assets purchased was the aggregate sum of book value of the inventory at the time of the transaction plus a cash payment of €293,000, or approximately $335,000, and 12,404 of the Company’s common shares.

The purchase price and allocation of purchase price were as follows:



Purchase Price:	(in thousands)
Cash consideration	$	335
Fair market value of common shares issued on effective date	337

Cash paid for inventory	432
Total purchase price	$	1,104



Allocation of Purchase Price:	(in thousands)
Inventory	$	1,104

As of September 30, 2020, the Company has fully paid for the Austria asset acquisition.