Newpark Resources to sell Excalibar mineral grinding business to Cimbar for $48M plus inventory

NPK International Inc.

Sale price $48M cash, adjusted for inventory value target of $24.5M; net capital employed ~$65M as of Sep 30, 2022.
Expected net cash proceeds ~$66M from sale plus retained receivables/payables; closing targeted in Q4 2022.
Newpark will enter 4-year barite supply agreement with Cimbar covering at least 95% of U.S. barite purchases.
Proceeds to be used for debt reduction, growth investments, and/or share repurchases.
Transaction includes customary closing conditions; PPHB and Culhane Meadows advised Newpark.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.