secwatch.observer — SEC 8-K summary
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Issuer:     AMPCO PITTSBURGH CORP (AP)
CIK:        0000006176
Form:       8-K
Filed at:   2022-09-02T23:59:59+00:00
Accession:  0001193125-22-237918
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ampco-Pittsburgh completes $15.5M sale-leaseback of VA facilities; 20-yr lease with $2.94M annual rent
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- ALS sold Lynchburg and Amherst, VA manufacturing facilities for ~$15.5M to Store Capital Acquisitions.
- Union Electric Steel (UES) executed 20-year master lease (to 2042) with four 5-year renewal options.
- Combined base annual rent of $2,939,139 payable in equal monthly installments; annual escalator of lesser of 2.02% or 1.25x CPI.
- UES has option to repurchase all facilities after 10 years at greater of 115% of Lessor's Total Investment or Fair Market Value.
- Up to $2.5M disbursement agreement for improvements at Carnegie, PA facility; Ampco provides unconditional guaranty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6176/000119312522237918/0001193125-22-237918-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6176/000119312522237918/d402397d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-237918

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