Yellow Corp: M&A transaction — Yellow repays $700M CARES Act loan plus $151M interest; sells real estate for $1.89B

Yellow Corp

Repaid $700M CARES Act principal and over $151M interest on Feb 5, 2024, fully satisfying loan commitments.
Completed sale of real estate holdings for aggregate $1.89B cash under Section 363 of Bankruptcy Code.
Treasury's 15.9M shares (29.6% equity) currently worth approximately $72M.
Upon repayment, UST Credit Agreements and Junior DIP Credit Facility were terminated and liens released.
All transactions occurred while Company operates under Chapter 11 protection; lawsuit against Teamsters ongoing.

item 1.02 item 8.01 item 2.01 item 7.01 item 9.01

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

Yellow Corp completed a disposition involving various purchasers for approximately $1.89 billion in cash (closed 2024-02-08).

Action: disposition
Counterparty: various purchasers
Consideration: approximately $1.89 billion in cash
Closing: 2024-02-08

Exact text from the filing

As of February 8, 2024, the Company has consummated the sale of certain of the Company’s real estate holdings (the “ Sold Real Estate ”) to various purchasers for an aggregate purchase price of approximately $1.89 billion in cash (together, the “ Yellow Asset Sales ”).

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Source: SEC EDGAR

accession 0001193125-24-030292

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