Douglas Dynamics completes $62.4M sale-leaseback of seven facilities; net proceeds ~$50M

DOUGLAS DYNAMICS, INC

Gross proceeds of $62.4M from sale of 7 facilities (~780K sq ft) to TPG Angelo Gordon affiliate.
Net proceeds expected ~$50M after expenses and taxes; used to reduce term loan debt and for corporate purposes.
Initial lease term 15 years with two 10-year renewal options; first-year rent $4.75M with 3% annual escalation.
Properties located in IL, IA, ME, MI, WI; company guaranteed lease obligations under the agreement.

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