---
schema_version: "secwatch.filing_event.v1"
accession: "0000071829-22-000187"
form_type: "8-K"
ticker: "NPKI"
cik: "0000071829"
company_name: "NPK International Inc."
filed_at: "2022-12-01T23:59:59+00:00"
generated_at: "2026-06-21T11:18:35.641833+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Newpark completes sale of Excalibar and Conroe facility for nearly $80M net cash

## Summary
- Sold Excalibar industrial mineral grinding assets to Cimbar Resources for $48M base price plus inventory adjustment; also sold Conroe, TX blending facility.
- Combined divestitures expected to generate nearly $80M net cash, including $63M received at closing.
- Proceeds to be used for debt reduction, higher-return investments, and share repurchases.
- Newpark agreed to 4-year non-compete and will buy at least 95% of its U.S. barite from Cimbar.
- Pro forma net cash from Excalibar alone estimated at $59.3M, based on Sept 30 inventory.

## SEC filing metadata
- accession: 0000071829-22-000187
- form_type: 8-K
- ticker: NPKI
- cik: 0000071829
- company_name: NPK International Inc.
- filed_at: 2022-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/71829/000007182922000187/0000071829-22-000187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/71829/000007182922000187/nr-20221130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000071829-22-000187
- JSON: https://secwatch.observer/filing/0000071829-22-000187.json
- Plain text: https://secwatch.observer/filing/0000071829-22-000187.txt

## Key facts
- M&A Transactions
  NPK International Inc. completed a disposition involving Cimbar Resources, INC. for $48 million in cash (closed 2022-11-30).
  - Action: disposition
  - Counterparty: Cimbar Resources, INC.
  - Consideration: $48 million in cash
  - Closing: 2022-11-30
  source text: INC. (“Purchaser”) pursuant to an asset purchase agreement to which Excalibar and the Purchaser are parties dated as of October 19, 2022 (the “Agreement”). The sales price was $48 million in cash, adjusted by an amount equal to the excess or deficit, as applicable, in inventory value at closing based on a targeted amount of inventory value of $24.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/71829/000007182922000187/0000071829-22-000187-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.