Video streaming service provider Gaia Inc. acquired Yoga International LLC, a multimedia content provider focused on yoga.

The acquisition adds 4,000 hours of yoga content to Gaia's library.

Upon closing of the deal, all issued and outstanding shares of Yoga International were converted into a right to receive an aggregate of about $9 million in cash, in addition to 1,134,613 shares of Gaia class A common stock.

At closing, $505,000 was used to repay all of Yoga International's outstanding debt, $530,000 for transaction fees and about $1.3 million was retained by Yoga International to fund the balance sheet shortfall.

Half of the shares of Gaia class A common stock issued pursuant to the deal are subject to a six-month holdback arrangement and the other half are subject to a holdback until Jan. 1, 2023. Also, $1 million of the cash to be received by Yoga International's stockholders pursuant to the deal will be due and payable on March 1, 2022, subject to certain conditions.