Kodak Completes Asset Acquisition

TL;DR

Kodak just bought some assets, deal closed Dec 31st.

AI Summary

Eastman Kodak Company reported on December 31, 2024, that it has completed the acquisition of certain assets from a third party. The filing does not disclose the specific name of the seller or the financial terms of the transaction, but it indicates the completion of this strategic move.

Why It Matters

This acquisition signifies Eastman Kodak's strategic expansion or consolidation within its industry, potentially impacting its market position and future growth trajectory.

Risk Assessment

Risk Level: medium — The lack of specific financial details and the nature of asset acquisitions can introduce uncertainty regarding the true value and impact of the deal.

Key Players & Entities

• Eastman Kodak Company (company) — Registrant
• December 31, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share KODK New York Stock Excha
• $752.8 million — asset value as of the Reference Date of $752.8 million and received effective gross purchase p
• $540.6 m — ective gross purchase price proceeds of $540.6 million, all of which have been received.
• $87.3 million — asset value as of the Reference Date of $87.3 million and received effective gross purchase p
• $61.7 m — ective gross purchase price proceeds of $61.7 million, all of which proceeds have been
• $9.0 million — proceeds have been received except for $9.0 million of cash proceeds which are payable on a
• $169.4 million — quid Assets having a net asset value of $169.4 million as of September 30, 2024. With respect
• $917.2 million — Form 8-K as having a net asset value of $917.2 million as of September 30, 2024, KRIP has rece
• $56.7 million — distribution or redemption payments of $56.7 million during October and November 2024, after
• $870.2 million — ge Fund Assets had a net asset value of $870.2 million as of November 30, 2024. Subsequent to
• $106.4 million — distribution or redemption payments of $106.4 million with respect to the Hedge Fund Assets.

Filing Documents

• kodk-20241231.htm (8-K) — 41KB
• 0000950170-25-002845.txt ( ) — 149KB
• kodk-20241231.xsd (EX-101.SCH) — 23KB
• kodk-20241231_htm.xml (XML) — 4KB

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. As previously disclosed in the Current Report on Form 8-K filed by Eastman Kodak Company ("Kodak") with the Securities and Exchange Commission on November 25, 2024 (the "Signing Form 8-K"), on November 20, 2024 the Kodak Retirement Income Plan Trust (the "Trust"), in its capacity as holder of assets for the benefit of the Kodak Retirement Income Plan ("KRIP"), entered into a Purchase and Sale Agreement (the "Agreement") with Mastercard Foundation (the "Buyer"). The information contained in the Signing Form 8-K under Item 1.01 and the first two paragraphs under Item 8.01 is incorporated by reference in this Current Report, and capitalized terms not defined herein have the respective meanings given to such terms in the Signing Form 8-K. Pursuant to the Agreement, on December 31, 2024 the Trust sold to the Buyer (the "Mastercard Closing") KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $752.8 million and received effective gross purchase price proceeds of $540.6 million, all of which have been received. All KRIP Illiquid Assets contemplated to be sold pursuant to the Agreement were sold and transferred at the Mastercard Closing (the reduction from the amounts reported in the Signing Form 8-K is due to the failure of two private equity partnership interests to transfer because in one case the required consent of the applicable general partner could not be obtained on acceptable terms and in the other case another limited partner in the fund exercised a right of first refusal). Also on December 31, 2024, pursuant to the Other Agreements the Trust sold to four other investors (together with the Mastercard Closing, the "Closings") KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $87.3 million and received effective gross purchase price proceeds of $61.7 million, all of which proceeds have been received except for $9.0 million of cash

01 Other Events

Item 8.01 Other Events. Following the Closings, the Trust continues to hold KRIP Illiquid Assets having a net asset value of $169.4 million as of September 30, 2024. With respect to the Hedge Fund Assets held by KRIP and reported in the Signing Form 8-K as having a net asset value of $917.2 million as of September 30, 2024, KRIP has received aggregate distribution or redemption payments of $56.7 million during October and November 2024, after which the Hedge Fund Assets had a net asset value of $870.2 million as of November 30, 2024. Subsequent to November 30, 2024 and through December 31, 2024, KRIP has received additional aggregate distribution or redemption payments of $106.4 million with respect to the Hedge Fund Assets. The net asset value of the Hedge Fund Assets as of December 31, 2024 is not yet available. Other than the KRIP Illiquid Assets and the Hedge Fund Assets, KRIP's assets are held in liquid investments comprised primarily of government and corporate bonds, hedging arrangements and cash.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EASTMAN KODAK COMPANY Date: January 7, 2025 By: /s/David E. Bullwinkle David E. Bullwinkle Chief Financial Officer and Senior Vice President

View Full Filing

View this 8-K filing on SEC EDGAR