secwatch.observer — SEC 8-K summary
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Issuer:     DELTA APPAREL, INC (—)
CIK:        0001101396
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001437749-24-005767
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Delta Apparel enters sale-leaseback of Fayetteville campus for $23.5M, expects $22M net proceeds
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- Sale price $23.5M; expected net proceeds ~$22M after taxes and transaction costs.
- Long-term triple-net leaseback with initial term of 10.5 years at $4.25/sqft with 1.5% annual increases.
- Proceeds to repay asset-based revolving credit facility borrowings and generate additional liquidity.
- Closing targeted around May 1, 2024, subject to buyer's inspection, due diligence, and other conditions.
- Campus contains ~550k sq ft on ~35 acres used for manufacturing, decoration, distribution, and other activities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1101396/000143774924005767/0001437749-24-005767-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1101396/000143774924005767/dla20240227_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-005767

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer