secwatch.observer — SEC 8-K summary
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Issuer:     Farmland Partners Inc. (FPI)
CIK:        0001591670
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001104659-24-105838
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmland Partners agrees to sell 46 farms for $289M; expects ~$50M gain
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- Portfolio of 46 farms (41,554 acres) sold to Farmland Reserve for $289M all-cash; close Oct 16, 2024.
- Expected pre-tax gain of ~$50M, or ~21% over aggregate net book value.
- Proceeds: reduce debt by ~$140M, buy back stock, pursue acquisitions, and general corporate purposes.
- FPI expects to make a significant special distribution to shareholders at year-end.
- Portfolio excludes Illinois farmland; includes farms in AR, FL, LA, MS, NE, OK, NC, SC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1591670/000110465924105838/0001104659-24-105838-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1591670/000110465924105838/tm2425507d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-105838

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