secwatch.observer — SEC 8-K summary
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Issuer:     Calumet, Inc. /DE (CLMT)
CIK:        0002013745
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0002013745-24-000017
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calumet closes $150M sale-leaseback; receives $110M initially, MRL lease amended
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- Sale-leaseback of Calumet Montana Refining assets for $150M; initial $110M received; remaining $40M contingent on future financing.
- Cost of capital ~10.75% per year; monthly lease payments ~$1.9M over 9 years; proceeds to repay revolver.
- MRL lease agreements amended to allow early termination upon receipt of proceeds from an Eligible Capital Event, including DOE loan guarantee.
- If MRL repurchases assets on Nov 1, 2024, cost would be approx. $403M.
- No assurance that DOE loan guarantee will be awarded or funded.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2013745/000201374524000017/0002013745-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2013745/000201374524000017/clmt-20240930x8k.htm
  HTML page:      https://secwatch.observer/filing/0002013745-24-000017

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