secwatch.observer — SEC 8-K summary
======================================

Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001140361-23-029516
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational closes Nashville campus sale for $33.8M, net gain ~$28.7M, plans new campus
--------------------------------------------------------------------------------

- Sold 16-acre Nashville campus to SLC Development affiliate for $33.8M; net proceeds ~$33.2M.
- Property carrying value $4.5M; gain on sale ~$28.7M.
- Leaseback allows rent-free occupation for 15 months; three extensions at $150k per 30-day term.
- Will invest $15-$20M to build new Nashville campus; first year expected EBITDA neutral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123029516/0001140361-23-029516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123029516/brhc20054379_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-029516

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