Solésence, Inc.'s wholly owned subsidiary, Solésence, LLC, entered into a settlement agreement with Refy Beauty Ltd on July 6, 2026, to resolve disputes over previously sold consumer care products. The agreement includes a financial settlement and a potential future business collaboration.
Key Details
- Settlement Amount: Solésence will pay Refy Beauty the British Pound Sterling equivalent of $938,000.
- Payment Terms: The settlement will be paid in twelve equal monthly installments of $78,166.66, with the first payment due on August 5, 2026.
- Exclusivity & Future Business: The parties agreed to a six-month exclusivity period to develop a new SPF product. If a new supply agreement is executed, the final six settlement payments will be converted into a credit toward purchases under that agreement.