iRadimed reinstates land purchase, acquires 26.5 acres in Florida for $6.2M for new manufacturing facility

IRADIMED CORP

Purchased ~26.518 acres in Orange County, FL for $6.2M from O Property, Ltd.
Reinstated previously terminated Nov 2022 purchase agreement; closing occurred Jan 31, 2023.
Aggregate earnest money of $250k non-refundable except if seller fails to perform.
Property planned for medical device design and manufacturing facility (manufacturing expansion).

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

IRADIMED CORP amended Reinstatement with O Property, Ltd. valued at $6,200,000 (effective 2023-02-02).

Action: amendment
Agreement: asset purchase
Counterparty: O Property, Ltd.
Value: $6,200,000
Effective: 2023-02-02

Exact text from the filing

On February 2, 2023, iRadimed Corporation (the “Company”) entered into a reinstatement and amendment (the “Reinstatement”) to the previously announced sale and purchase agreement with O Property, Ltd., a Florida limited partnership (the “Purchase Agreement”) dated as of November 1, 2022, pursuant to which the parties agreed to consummate a sale of real property located in Orange County, Florida. Pursuant to the terms of the Reinstatement, the parties consummated the sale of approximately 26.518 acres of land to the Company for a purchase price of $6,200,000.

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IRADIMED CORP filing history →

Source: SEC EDGAR

accession 0000898432-23-000046

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