secwatch.observer — SEC 8-K summary
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Issuer:     DELTA APPAREL, INC (—)
CIK:        0001101396
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001437749-24-029899
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Delta Apparel sells Salt Life brand for ~$35.9M, Soffe brand for ~$15.3M in Chapter 11
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- Salt Life assets sold to Iconix International & Hilco Merchant Resources for $35.94M cash, closed Sep 19, 2024.
- Soffe assets sold to Renfro LLC for $15.3M cash, closed Sep 20, 2024.
- Prior FCM Saltwater Agreement terminated; company owes break-up fee of ~$841K and expense reimbursement up to ~$420K.
- Company warns common stockholders will likely experience complete or significant loss on their investment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1101396/000143774924029899/0001437749-24-029899-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1101396/000143774924029899/dla20240923_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-029899

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