secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2021-11-02T23:59:59+00:00
Accession:  0001019056-21-000559
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational completes $46.5M sale-leaseback of two campuses, nets $28.5M
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- Closed sale of Denver and Grand Prairie properties for $46.5M; net proceeds ~$28.5M after repaying $16.8M term loan and $1.2M costs.
- Anticipates recording ~$22M gain on sale in Q4 2021; annual interest savings ~$0.8M from loan repayment.
- Entered 20-year triple-net leases with annual base rent ~$2.6M, escalating 2% yearly, with four 5-year renewal options.
- Proceeds to fund growth initiatives, facility upgrades, and working capital; campus operations continue uninterrupted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000101905621000559/0001019056-21-000559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000101905621000559/lincoln_8k.htm
  HTML page:      https://secwatch.observer/filing/0001019056-21-000559

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