---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000630"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-06-12T23:59:59+00:00"
generated_at: "2026-06-01T04:55:56.909137+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# EDC sells headquarters for $35.5M, enters 10-year leaseback; proceeds to pay off bank loans

## Summary
- Sale price of Hilti Complex: $35,500,000; proceeds used to pay off Term Loans and Revolving Loan.
- 10-year triple-net lease at $8.72/sq ft initial, 2% annual escalations starting year six.
- 16.75 acres of undeveloped land adjacent retained by EDC.
- Interest savings on reduced borrowings expected to exceed monthly rent, improving cash flow.
- Closing 30 days after 60-day due diligence period; no financing contingency.

## SEC filing metadata
- accession: 0001185185-24-000630
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-06-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000630/0001185185-24-000630-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000630/edc20240611_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000630
- JSON: https://secwatch.observer/filing/0001185185-24-000630.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000630.txt

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