secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2021-09-28T23:59:59+00:00
Accession:  0001019056-21-000504
Event type: other
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational to monetize three campuses for $81M; net proceeds ~$60M after debt repayment
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- Sale-leaseback of Denver and Grand Prairie campuses for $46.5M; expected Q4 2021 close; $22M gain on sale.
- Sale of Nashville campus for $34.5M; expected Q1 2022 close; $29M gain; rent-free leaseback for 12 months.
- Combined net proceeds ~$80M; $17M to repay term loan; remaining ~$60M for growth and new Nashville campus buildout.
- Annual interest savings ~$0.8M from debt repayment; plan to use NOLs to offset tax liability.
- Transactions subject to due diligence and closing conditions; no assurance of consummation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000101905621000504/0001019056-21-000504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000101905621000504/lincoln_8k.htm
  HTML page:      https://secwatch.observer/filing/0001019056-21-000504

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