secwatch.observer — SEC 8-K summary
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Issuer:     NACCO INDUSTRIES INC (NC)
CIK:        0000789933
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0000789933-22-000067
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NACCO sells minority stake in Midwest AgEnergy for $18.6M cash; up to $13.6M in earn-outs
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- Received $18.6M cash for transferring minority equity interest in MAG to HLCP Ethanol Holdco.
- Escrow held for working capital adjustment (settled within 60 days) and indemnity through Dec 2023.
- Earn-out 1: up to additional payments based on EBITDA targets through Dec 31, 2024.
- Earn-out 2: tied to development of CO2 pipeline for sequestration project over four years.
- Total additional payments from earn-outs and escrow could range $0 to approx. $13.6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789933/000078993322000067/0000789933-22-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789933/000078993322000067/nacco-20221201.htm
  HTML page:      https://secwatch.observer/filing/0000789933-22-000067

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