Stewards, Inc. Terminates Purchase Agreement; $100K Settlement to Seller

What Happened Stewards, Inc. (filed 8-K on Sept. 22, 2026) announced that its wholly owned subsidiary, Stewards Real Estate, LLC, has terminated the Purchase and Sale Agreement to buy The Hawthorne at 196 Shore Road, Chatham, MA. The Purchase Agreement (originally dated June 5, 2026) called for a $20,000,000 purchase price and a $1,000,000 earnest-money deposit. Following a dispute that led to litigation (Stewards Real Estate, LLC v. John E. Swenson Co., Inc., Civil Action No. 2672CV00329), the parties executed a confidential Settlement Agreement on Sept. 17, 2026 terminating the transaction and resolving the dispute.

Key Details

• Purchase price was $20,000,000; earnest deposit was $1,000,000 held in escrow.
• Settlement provides escrow distribution: $100,000 to John E. Swenson Co., Inc. and $900,000 returned to Stewards Real Estate.
• After each party receives its settlement amount, Swenson must file a stipulation dismissing the Action with prejudice within three business days; mutual releases take effect only after distribution.
• Each party bears its own legal fees; neither party admits liability; the Company will not acquire the Property. The Company did not file the confidential Settlement Agreement as an exhibit to the 8-K.

Why It Matters For investors, the immediate practical effects are that Stewards will not complete this $20M acquisition and will recover $900,000 of the $1,000,000 deposit, with $100,000 treated as the settlement expense. The filing clarifies the resolution of the related litigation and limits further obligation tied to this transaction (mutual releases and dismissal of the suit once escrowed funds are distributed). The company also notes forward-looking statements about the expected distribution and dismissal, and reiterates it is not attaching the confidential settlement to the filing.