secwatch.observer — SEC 8-K summary
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Issuer:     NPK International Inc. (NPKI)
CIK:        0000071829
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0000071829-22-000161
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/71829/000007182922000161/0000071829-22-000161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/71829/000007182922000161/nr-20221019.htm
  HTML page:      https://secwatch.observer/filing/0000071829-22-000161

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer