Orion Group completes $20.3M sale-leasebacks; proceeds to reduce debt and fund growth

Orion Group Holdings Inc

Closed sale-leaseback of Port Lavaca South Yard for $12.0M; Baytown Pipe Yard sale for $8.3M expected to close Q4 2023.
Total proceeds of $20.3M to be used for debt reduction and general corporate purposes.
CEO Travis Boone says monetizing real estate assets is key to strategic plan to improve financial performance.
Transactions strengthen liquidity; Port Lavaca deal already closed, Baytown pending normal due diligence.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Orion Group Holdings Inc entered into a lease with Pelican Marine Services, LLC valued at $8.3 million (effective 2023-06-21).

Action: entry
Agreement: lease
Counterparty: Pelican Marine Services, LLC
Value: $8.3 million
Effective: 2023-06-21

Exact text from the filing

On June 21, 2023, Orion Group Holdings, Inc. (the "Company") entered into a Land Sale-Leaseback Contract with Pelican Marine Services, LLC, a Louisiana limited liability company, who, subject to normal due diligence conditions, has agreed to purchase the Company’s Baytown Pipe Yard property in Baytown, Texas. The purchase price is $8.3 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Orion Group Holdings Inc entered into a lease with Store Capital Acquisitions, LLC valued at $12.0 million (effective 2023-06-23).

Action: entry
Agreement: lease
Counterparty: Store Capital Acquisitions, LLC
Value: $12.0 million
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, the Company closed on the Land-Sale Leaseback Contract with Store Capital Acquisitions, LLC, a Delaware limited liability company, for the Company’s Port Lavaca South Yard property located in Port Lavaca, Texas for a purchase price of $12.0 million.

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281 material agreements filed in the last 30 days. Browse all material agreements →

Orion Group Holdings Inc filing history →

Source: SEC EDGAR

accession 0001402829-23-000037

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