secwatch.observer — SEC 8-K summary
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Issuer:     Clearwater Paper Corp (CLW)
CIK:        0001441236
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001504337-24-000047
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearwater Paper completes $1.06B sale of consumer products division to Sofidel
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- Closed sale of tissue business (Las Vegas, Elwood, Shelby, Lewiston assets) for ~$1.06B cash on Nov 1, 2024.
- Net proceeds ~$844M after assumed debt, costs, taxes; used to repay $400M Farm Credit term loan, $270M term revolver, $90M commercial bank term loan, $90M ABL.
- Pro forma continuing ops (pulp & paperboard) net sales $603M for H1 2024 vs. $1,082.6M total; net loss $44.4M.
- Pro forma continuing ops Adjusted EBITDA $5.1M for H1 2024 (0.8% margin); FY23 Adj. EBITDA $122.0M (10.7% margin).
- Retained Lewiston land/facilities; will lease to buyer; recorded deferred lease revenue ~$34M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1441236/000150433724000047/0001504337-24-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1441236/000150433724000047/clw-20241101.htm
  HTML page:      https://secwatch.observer/filing/0001504337-24-000047

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