Item 1.01 Entry into a Material Definitive Agreement.

On December 23, 2021, SLG Chemicals, Inc., a Colorado corporation ("SLG Chemicals") and a wholly owned subsidiary of Scott's Liquid Gold-Inc., a Colorado corporation (the "Company"), entered into an Asset Purchase Agreement (the "Purchase Agreement") with Iron Out, Inc. d/b/a Summit Brands, an Indiana corporation ("Buyer") pursuant to which SLG Chemicals agreed to sell to Buyer all of SLG Chemical's right, title and interest in and to certain assets of the Dryel® product line, which includes dryer-activated cleaning cloths, reusable fabric protection bags, odor and wrinkle releaser, and stain pens (the "Business"), together with certain obligations and liabilities relating to the Business. The transactions contemplated by the Purchase Agreement were consummated on December 23, 2021 (the "Disposition"). The total consideration paid to SLG Chemicals for the Business was $4,850,000, plus an amount equal to the value of the Business-related inventory, estimated to be $400,000, and subject to post-close adjustment. The Business generated approximately $2,700,000 of net sales in the trailing twelve-month period ending September 30, 2021.

Item 2.01. Completion of Acquisition or Disposition of Assets.

The description of the Disposition contained in Item 1.01 above is hereby incorporated by reference.

Item 7.01. Regulation FD Disclosure.

On December 29, 2021, the Company issued a press release announcing the Disposition. A copy of the Disposition press release is furnished as Exhibit 99.1 to this Current Report. The information under this Item 7.01 and contained in Exhibit 99.1 will not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor will such information or exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as is expressly set forth by specific reference in such a filing.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits: The following exhibit is filed as part of this report:

Exhibit No. Exhibit Description


   99.1         Scott's Liquid Gold-Inc. press release, dated December 29, 2021
    104       Cover Page Interactive Data File (embedded within the Inline XBRL document)

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