CoreCivic sells two detention facilities to DHS for $734M; net proceeds ~$522.5M

CoreCivic, Inc.

Sold 1,600-bed Prairie (MN) for $495.6M and 1,033-bed Midwest (KS) for $238.4M.
Net proceeds after ~$182.2M taxes and transaction costs expected to be ~$522.5M; to be used for debt reduction and stock repurchases.
Company will continue to manage both facilities under existing ICE management contracts (Prairie expires Aug 2031, Midwest Sep 2027).
Following sales, CoreCivic owns/controls 61 facilities with ~67,000 beds and manages 8 additional facilities with 13,000 beds.
Discussions with ICE about potential acquisition of additional detention facilities are in preliminary stages; no assurance of further sales.

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