CIL&D, LLC: M&A transaction — CIL&D sells Kaiser Eagle Mountain for ~$22.6M, subsidiaries for ~$52K; proceeds distributed

CIL&D, LLC

KEM sold to Ecology Mountain Holdings for net cash ~$22,580,000 after closing costs and adjustments.
Subsidiaries sold to Eubank Ave. LLC for net ~$52,000; Mine Reclamation entitled to 53.3% of net KEM proceeds.
Remaining assets: cash, investments, and 84.247% interest in Mine Reclamation, expected to dissolve by end of 2023.
Officers Stoddard and Cook resigned from sold entities; ~$887K distributed to Class C/D units, ~$650K incentive paid to Stoddard.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CIL&D, LLC completed a disposition involving Eubank Ave. LLC for net cash price of approximately $52,000 (closed 2023-04-17).

Action: disposition
Counterparty: Eubank Ave. LLC
Consideration: net cash price of approximately $52,000
Closing: 2023-04-17

Exact text from the filing

The separate Subsidiaries Sale closed on April 17, 2023, and the net cash price to the Company was approximately $52,000 after known and estimated closing costs and adjustments.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CIL&D, LLC completed a disposition involving Ecology Mountain Holdings LLC for net cash price of approximately $22,580,000 (closed 2023-04-17).

Action: disposition
Counterparty: Ecology Mountain Holdings LLC
Consideration: net cash price of approximately $22,580,000
Closing: 2023-04-17

Exact text from the filing

On April 17, 2023, Acquisition sold its wholly owned subsidiary, KEM, to the Buyer for a net cash price of approximately $22,580,000 after known and estimated outstanding closing costs and adjustments.

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Source: SEC EDGAR

accession 0001193125-23-110344

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