Amass Brands replaces Full Glass $4 million wine purchase commitment with $427,000 settlement - AMSS News | RalliesAmass Brands replaces Full Glass $4 million wine purchase commitment with $427,000 settlement
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AMSS• Settlement replaces wine purchase commitment
- Amass Brands signed a side letter with Full Glass that terminates a 2024 multi-year wine purchase agreement.
- The original $4 million inventory purchase commitment was replaced with a $427,000 settlement.
- $31,750 is due by July 31, 2026; payment triggers release of certain wine inventory to Full Glass.
- A $406,000 deposit can fund equity redemption in Full Glass Wine, with or without a new wine purchase.
- Late installments trigger a $10,000 charge; failure to cure can reinstate the original purchase obligations.
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