secwatch.observer — SEC 8-K summary
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Issuer:     EAGLE MATERIALS INC (EXP)
CIK:        0000918646
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001193125-24-130864
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eagle Materials grants reciprocal put options to buy 50% JV stake at $1.1B
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- Put options exercisable for 15 months if either partner signs a $1B+ cement/slag asset purchase outside JV.
- Purchase price for 50% interest is $1.1 billion, subject to working capital and debt adjustments.
- JV Texas Lehigh manufactures grey cement in Buda, Texas; current partners are Eagle (50%) and Heidelberg Materials (50%).
- No party is currently negotiating an Outside Purchase Agreement; options provide an additional exit mechanism.
- If triggered, sale closes concurrently with the outside acquisition under a pre-agreed Interest Purchase Agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918646/000119312524130864/0001193125-24-130864-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918646/000119312524130864/d803494d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-130864

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