---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-121729"
form_type: "8-K"
ticker: "CDNL"
cik: "0002079999"
company_name: "Cardinal Infrastructure Group Inc."
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:16:42.942132+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cardinal completes $40M acquisition of Red Clay Industries; pro forma results disclosed

## Summary
- Acquired Red Clay for ~$40M ($39M cash + $1M assumed liabilities).
- Red Clay 2024 revenue $44.9M, net income $3.1M; 9M 2025 revenue $37.1M, net income $1.6M.
- Pro forma 2024: Net Income $17.8M, EBITDA $51.7M, Adj EBITDA $62.0M.
- Pro forma 9M 2025: Net Income $24.3M, EBITDA $58.1M, Adj EBITDA $60.4M.
- Red Clay employees received equity grants in Cardinal subsidiary valued at $5.8M.

## SEC filing metadata
- accession: 0001213900-25-121729
- form_type: 8-K
- ticker: CDNL
- cik: 0002079999
- company_name: Cardinal Infrastructure Group Inc.
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2079999/000121390025121729/0001213900-25-121729-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2079999/000121390025121729/ea0268765-8k_card.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-121729
- JSON: https://secwatch.observer/filing/0001213900-25-121729.json
- Plain text: https://secwatch.observer/filing/0001213900-25-121729.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.