Educational Development Corp. Signs Material Definitive Agreement
Ticker: EDUC · Form: 8-K · Filed: Aug 5, 2024 · CIK: 31667
Sentiment: neutral
Topics: material-agreement
TL;DR
EDC signed a big deal, details TBD.
AI Summary
Educational Development Corp. entered into a material definitive agreement on August 2, 2024. The filing does not disclose the specific terms or parties involved in this agreement, only that it is a significant event for the company.
Why It Matters
This filing indicates a significant new contract or partnership for Educational Development Corp., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its impact on the company.
Key Players & Entities
- EDUCATIONAL DEVELOPMENT CORP (company) — Registrant
- August 5, 2024 (date) — Filing Date
- August 2, 2024 (date) — Earliest Event Reported Date
FAQ
What is the nature of the material definitive agreement entered into by Educational Development Corp.?
The filing does not specify the nature of the material definitive agreement, only that one was entered into on August 2, 2024.
Who are the parties involved in this material definitive agreement?
The filing does not disclose the names of the other parties to the material definitive agreement.
What is the effective date of this material definitive agreement?
The earliest event reported date, which is the date of the agreement, is August 2, 2024.
Does this agreement involve any financial commitments or obligations for Educational Development Corp.?
The filing does not provide details on any financial commitments or obligations associated with the agreement.
Why is this agreement considered 'material'?
The filing states it is a 'material definitive agreement', implying it is significant enough to warrant disclosure under SEC rules, but the specific reasons are not detailed.
Filing Stats: 475 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-08-05 17:03:45
Filing Documents
- edc20240805_8k.htm (8-K) — 20KB
- 0001185185-24-000758.txt ( ) — 152KB
- educ-20240802.xsd (EX-101.SCH) — 3KB
- educ-20240802_def.xml (EX-101.DEF) — 10KB
- educ-20240802_lab.xml (EX-101.LAB) — 19KB
- educ-20240802_pre.xml (EX-101.PRE) — 11KB
- edc20240805_8k_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On August 2, 2024, Educational Development Corporation ("EDC", the "Company" or "Seller") (NASDAQ: EDUC) (http://www.edcpub.com) executed the First Amendment ("Amendment") to the Existing Commercial Real Estate Contract ("Contract") with Rockford Holdings ("Rockford" or "Buyer") dated as of June 6, 2024, for the sale of the Company's headquarters and distribution warehouse located at 5400-5402 South 122 nd East Avenue, Tulsa, Oklahoma 74146 (the "Hilti Complex"). The Amendment extends the inspection period of 60 days for due diligence ending on August 5, 2024 to September 4, 2024. The foregoing description of the Amendment is not complete and is qualified in all respects subject to the actual provisions of the Amendment. SIGNATURE Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Educational Development Corporation By: /s/ Craig M. White Craig M. White President and Chief Executive Officer Date: August 5, 2024