BUTLER NATIONAL CORP (BUKS): M&A transaction — Butler National closes sale of two Olathe, KS buildings for $2.1M net, gains $1.5M

BUTLER NATIONAL CORP

Sold former corporate office at 19920 W. 161st St and adjacent warehouse at 19930 W. 161st St, Olathe, KS.
Net proceeds: $1M for office, $1.1M for warehouse; total $2.1M.
Properties had a lien of approximately $376,000.
Sale resulted in a gain of $1.5 million.
Sale closed on March 29, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BUTLER NATIONAL CORP completed a disposition for net proceeds of the two buildings were $1 million for the former Corporate Office, and $1.1 million for the 19930 W. 161 st Street property (closed 2024-03-29).

Action: disposition
Consideration: net proceeds of the two buildings were $1 million for the former Corporate Office, and $1.1 million for the 19930 W. 161 st Street property
Closing: 2024-03-29

Exact text from the filing

on the sale of two of its buildings in Olathe, Kansas resulting in a gain to the Corporation of $1.5 million. The Company completed the sale of the former Corporate Office, 19920 W. 161 st Street, Olathe, Kansas, and the adjacent building/warehouse at 19930 W. 161 st Street, Olathe, Kansas 66062. The net proceeds of the two buildings were $1 million for

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Source: SEC EDGAR

accession 0001437749-24-010401

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