Inspire Veterinary Partners Inc.

09/26/2024 | Press release | Distributed by Public on 09/26/2024 12:47

Material Event Form 8 K

Item 8.01 Other Events.

On September 20, 2024 Inspire Veterinary Partners, Inc. (the "Company"), through its holding company KVC Holding Company, LLC sold Kauai Veterinary Clinic, Inc., located in Lihue, Hawaii on the island of Kauai (the "Clinic"). The Clinic was sold to Kauai RE Holdings, LLC ("Kauai RE") for a total purchase price of $2,162,781.30 (the "Purchase Price").

The Purchase Price included clear title to the real estate, the practice, all equipment, all inventory, and certain associated debt of the Clinic. The Purchase Price was used to pay the balance of the loan on the Clinic and the Company received no proceeds from the sale.

The agent for the sale was Gregory Armstrong, a current shareholder of the Company and a member of Kauai RE. Charles Keiser, DVM, is a member of Kauai RE and the father of our board member Charles Stith Keiser, who is the Company's largest shareholder through his entity Wilderness Trace Veterinary Partners, LLC.

The purpose of the sale was based on the Company's desire to consolidate its operations to the mainland. With the sale of the Clinic, the Company currently has thirteen veterinary hospitals located in nine states.