Gulf Island completes acquisition of ENGlobal automation, engineering & govt services via credit bid and $5M cash

GULF ISLAND FABRICATION INC

Acquired ENGlobal's automation business effective May 12; engineering & government services effective June 16, 2025.
Credit bid the full $3.5M DIP loan balance (increased from $2.5M) to fund part of the acquisition.
Total cash payments of $5.0M include $1.5M to acquire Alliance's $2.4M senior secured loan; $1.2M paid in Q1 2025.
DIP loan fully drawn; Bankruptcy Court approved the acquisition and loan amendment.

item 8.01

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