AlenCiken

Completion of Sale-Leaseback

NASDAQ:NSYS   Nortech Systems Incorporated
Nortech Systems Announces Completion of Sale-Leaseback

Completed the sale and leaseback transactions for its manufacturing facilities in Bemidji and Mankato, Minnesota at a sale price of $6.3 million. The proceeds from the sale will be used to pay down debt as well as related expenses and taxes.

Concurrent with the closing on the sale, Nortech entered into long-term lease agreements for the Bemidji and Mankato, Minnesota facilities for an initial 15-year term, with multiple renewal options.

sale and leaseback transaction will generate significant net cash proceeds.

finance.yahoo.com/ne...-sale-203000947.html


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