Stark Novus Financial Inc. 8-K

What Happened

• Stark Novus Financial Inc. (formerly Nu Ride Inc.) announced on July 21, 2026 that its wholly owned subsidiary, Affinity Advisory Holdings Corp. (the “Buyer”), completed the acquisition of Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC on July 15, 2026. The Membership Interest Purchase Agreement was originally signed June 2, 2026. At the same time the company filed a Certificate of Amendment changing its name from “Nu Ride Inc.” to “Stark Novus Financial Inc.” and updated its bylaws to reflect the name change.

Key Details

• Cash paid at closing: $6,720,000 (subject to customary adjustments for working capital, cash, indebtedness, and transaction expenses).
• Equity consideration: 80,000 shares of the Company’s Class A common stock plus shares of the Buyer’s common stock equal to 15% of the Buyer’s issued and outstanding shares immediately after closing.
• Contingent earnout: up to $1,312,000 (plus accrued interest), payable in up to three annual installments of approximately $437,333 each if certain insurance-writing thresholds are met.
• Market/ticker update: the Company’s Class A Common Stock is expected to begin trading on the OTC under the ticker symbol “SNFI”; the CUSIP will not change.

Why It Matters

• The filing signals a strategic acquisition and corporate rebrand: investors should note the material cash and equity consideration used to acquire Affinity, and the potential additional earnout liability tied to future performance.
• The name change and new OTC ticker (SNFI) affect how investors will find and trade the stock; the underlying CUSIP remains unchanged.
• Financial statements and additional transaction details will be filed later (the Purchase Agreement is expected to be attached to the Company’s Quarterly Report on Form 10‑Q for the quarter ended June 30, 2026), which investors should review for fuller financial impact.