Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Laird Superfood, Inc. announced a impairment with charges of non-cash charges related to the impairment of its right of use assets and factory equipment of up to $5.3 million in the fourth quarter of 2022, as well as rela affecting its three leaseholds in Sisters, Oregon and the sale of operations equipment and personal property in such facilities.
- Type
- impairment
- Charge
- non-cash charges related to the impairment of its right of use assets and factory equipment of up to $5.3 million in the fourth quarter of 2022, as well as rela
- Affected area
- its three leaseholds in Sisters, Oregon and the sale of operations equipment and personal property in such facilities
Exact text from the filing
On December 9, 2022 the Company signed agreements for early exit of its three leaseholds in Sisters, Oregon and the sale of operations equipment and personal property in such facilities. The Company will gain no operational benefit from the leaseholds beginning late December 2022, and will terminate the lease agreements on January 31, 2023. As such, the Company anticipates that it will incur non-cash charges related to the impairment of its right of use assets and factory equipment of up to $5.3 million in the fourth quarter of 2022, as well as related net cash payments of $0.7 million expected to be made over the next 14 months.
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