secwatch.observer — SEC 8-K summary
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Issuer:     Cardinal Infrastructure Group Inc. (CDNL)
CIK:        0002079999
Form:       8-K
Filed at:   2025-12-15T23:59:59+00:00
Accession:  0001213900-25-121729
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2079999/000121390025121729/0001213900-25-121729-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2079999/000121390025121729/ea0268765-8k_card.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-121729

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