Tredegar sells ~18% kaléo stake for $47.1M cash, plus up to $14M contingent payments

TREDEGAR CORP

Closed sale of 18% ownership in kaléo to Marathon Asset Management; received $47.1M cash proceeds.
Potential post-closing adjustments up to $1.4M; contingent payments up to $5.6M (2023) and $8.5M (2024) based on kaléo revenue.
Fair value of stake was $35.5M at Sept 30, 2021; cost basis $7.5M; received $17.6M dividend from kaléo in 2019.
Expects to use ~$25M capital loss carryforwards to partially offset capital gains from the transaction.

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