Educational Development Corporation Announces Sale And Leaseback Agreement Of Headquarters and Warehouse Facility; The Agreed Upon Sale Price Of The Hilti Complex Per The Executed Contract Totaled $38.25M Less Fees, Commissions And Closing Costs
Portfolio Pulse from Benzinga Newsdesk
Educational Development Corporation (EDC) has announced a sale and leaseback agreement for its headquarters and warehouse facility, the Hilti Complex, for $38.25 million. The proceeds will be used to pay off existing loans. EDC will continue to occupy the space under a new lease agreement.
September 23, 2024 | 8:02 pm
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EDC has entered into a sale and leaseback agreement for its headquarters, generating $38.25 million to pay off loans. This move improves liquidity and financial stability.
The sale and leaseback agreement allows EDC to pay off its outstanding loans, improving its financial position. The continued occupancy under a lease ensures operational stability. This is likely to be viewed positively by investors, potentially boosting the stock price in the short term.
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