secwatch.observer — SEC 8-K summary
======================================

Issuer:     Crexendo, Inc. (CXDO)
CIK:        0001075736
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001654954-23-007055
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crexendo sells office building for $4.05M, leases back for 12-18 months
-----------------------------------------------------------------------

- Purchase price $4.05M, subject to adjustments; buyer is Nectar Equities, LLC.
- Existing mortgage with Bank of America (~$1.77M balance) will be paid off at closing.
- Company retains right to lease back premises for 12 to 18 months post-closing.
- Transaction expected to close within 120 days, subject to customary conditions.
- Building was previously included in property, plant, and equipment on Form 10-K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423007055/0001654954-23-007055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1075736/000165495423007055/cxdo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-007055

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