secwatch.observer — SEC 8-K summary
======================================

Issuer:     MATRIX SERVICE CO (MTRX)
CIK:        0000866273
Form:       8-K
Filed at:   2022-06-28T23:59:59+00:00
Accession:  0000866273-22-000035
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.01
LLM model:  deepseek-v4-flash:cloud@v2

Matrix Service completes sale of Orange CA facilities for $37.6M; records $32.8M pre-tax gain
--------------------------------------------------------------------------------

- Base sales price of $37.6M cash; net proceeds approximately $37.2M after customary adjustments.
- Pre-tax gain of $32.8M; NOLs fully offset gain, no federal taxes expected.
- Transaction recorded in fiscal Q4 2022; proceeds to support ongoing business.
- Company leases back facilities for up to 24 months while seeking a new location for western operations.
- Sale driven by increased west coast real estate value; company continues Southern California operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000035/0000866273-22-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866273/000086627322000035/mtrx-20220622.htm
  HTML page:      https://secwatch.observer/filing/0000866273-22-000035

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