---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000229"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:30:54.183229+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# EDC sells HQ and warehouse for $37.75M in sale-leaseback; proceeds to repay bank debt

## Summary
- Sale price of Hilti Complex in Tulsa, OK totals $37.75M under LOI with Blue Ledge Group.
- Proceeds will pay off all Term Loans and Revolving Loan under existing Credit Agreement.
- EDC will sign 10-year triple-net lease at $8.72/sq ft with 2% annual escalations from year 6.
- Excess 16.75-acre undeveloped parcel remains with EDC; third-party tenant lease assigned to buyer.
- CEO expects interest savings to exceed rent, improving financial performance and cash flows.

## SEC filing metadata
- accession: 0001185185-24-000229
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000229/0001185185-24-000229-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000229/edc20240312_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000229
- JSON: https://secwatch.observer/filing/0001185185-24-000229.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000229.txt

## Key facts
- Material Agreements
  EDUCATIONAL DEVELOPMENT CORP entered into Letter of Intent with Blue Ledge Group valued at $37,750,000 (effective 2024-03-06).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Blue Ledge Group
  - Value: $37,750,000
  - Effective: 2024-03-06
  source text: Effective March 6, 2024, Educational Development Corporation (“EDC”, the “Company” or “Seller”) entered into a Letter of Intent with Blue Ledge Group (“Buyer”) to execute a Purchase and Sale Agreement for the Company’s headquarters and distribution warehouse
  evidence_url: https://www.sec.gov/Archives/edgar/data/31667/000118518524000229/0001185185-24-000229-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.