Educational Developmen Announces Sale And Leaseback Agreement Of Headquarters And Warehouse Facility; Agreed Upon Sale Price Of The Hilti Complex Per The Executed Contract Totaled $35.5M
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Educational Development Corporation (NASDAQ:EDUC) has announced a sale and leaseback agreement for its headquarters and warehouse facility, the Hilti Complex, for $35.5 million. The proceeds will be used to pay off existing loans.
June 12, 2024 | 12:08 pm
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Educational Development Corporation (NASDAQ:EDUC) has executed a sale and leaseback agreement for its headquarters and warehouse facility, the Hilti Complex, for $35.5 million. The proceeds will be used to pay off existing loans.
The sale and leaseback agreement will provide Educational Development Corporation with immediate liquidity to pay off existing loans, which could improve its financial stability and potentially have a positive impact on its stock price in the short term.
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