{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-028241","form_type":"8-K","ticker":"FRD","cik":"0000039092","company_name":"FRIEDMAN INDUSTRIES INC","filed_at":"2025-09-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.091918+00:00","generated_at":"2026-05-17T08:40:47.890757+00:00","sec_items":["1.01","2.01","2.03","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Friedman Industries acquires Century Metals for $45.25M cash plus $3.5M note and earn-out","bullets":["Acquired Century Metals & Supplies for $45.25M cash at closing, $3.5M promissory note, and up to $10M earn-out over four years.","Century Metals had average annual revenues of ~$111M over past three fiscal years; deal expected to be immediately accretive.","Acquisition adds facilities in Miami (owned), Orlando and Tampa (leased), and expands into cold-rolled, coated, stainless steels and non-ferrous.","Credit facility amended: commitments reduced to $125M, maturity extended to August 29, 2030, with Wells Fargo replacing BMO as lender.","Friedman gains coil slitting capabilities and access to residential and corrosion-resistant markets."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-028241","json":"https://secwatch.observer/filing/0001437749-25-028241.json","markdown":"https://secwatch.observer/filing/0001437749-25-028241.md","text":"https://secwatch.observer/filing/0001437749-25-028241.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/frd20250902_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T08:40:47.890757+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ac58e85e98d1cda833c84ae0b757ff3d5d6bb6de","claim":"FRIEDMAN INDUSTRIES INC amended credit facility of reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million with JPMorgan Chase Bank, N.A., as administrative agent at prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55% maturing August 29, 2030.","evidence_excerpt":"Harris Bank N.A. is replaced as a lender under the A&R Credit Agreement with Wells Fargo Bank, N.A., (iii) reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million, (iv) provide for revolving borrowings either at prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55%, (v) extend the maturity date to","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Rate","value":"prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55%"},{"label":"Maturity","value":"August 29, 2030"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"de2c7027c26b71faf59fff8994614a90325acc29","claim":"FRIEDMAN INDUSTRIES INC incurred senior notes of $3.5 million with Sellers of Century Metals & Supplies, Inc. maturing five-year maturity date.","evidence_excerpt":"a note issued by the Company with a principal amount of $3.5 million with a five-year maturity date","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$3.5 million"},{"label":"Counterparty","value":"Sellers of Century Metals & Supplies, Inc."},{"label":"Maturity","value":"five-year maturity date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"886847098a1b5a1312847c17588b48ad6f670653","claim":"FRIEDMAN INDUSTRIES INC completed an acquisition involving Century Metals & Supplies, Inc. for approximately $45.25 million in cash (closed 2025-08-29).","evidence_excerpt":"Under the terms of the agreement, the Company acquired the assets for approximately $45.25 million in cash at closing, along with a note issued by the Company with a principal amount of $3.5 million with a five-year maturity date.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Century Metals & Supplies, Inc."},{"label":"Consideration","value":"approximately $45.25 million in cash"},{"label":"Closing","value":"2025-08-29"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}