Educational Development Corp Files 8-K with Agreement Changes
Ticker: EDUC · Form: 8-K · Filed: Oct 28, 2025 · CIK: 31667
Sentiment: neutral
Topics: material-agreement, corporate-action, filing
TL;DR
EDC filed an 8-K on Oct 28, 2025, reporting both entering and exiting a material agreement on Oct 27, 2025.
AI Summary
Educational Development Corporation filed an 8-K on October 28, 2025, reporting events that occurred on October 27, 2025. The filing indicates both the entry into and termination of a material definitive agreement, along with financial statements and exhibits. Specific details regarding the nature of these agreements and the financial information were not provided in the excerpt.
Why It Matters
This filing signals significant corporate actions, including the execution and dissolution of material agreements, which could impact the company's operations and financial standing.
Risk Assessment
Risk Level: medium — The filing indicates significant corporate actions involving material agreements, but the lack of specific details about these agreements introduces uncertainty.
Key Players & Entities
- EDUCATIONAL DEVELOPMENT CORP (company) — Registrant
- October 28, 2025 (date) — Filing Date
- October 27, 2025 (date) — Earliest Event Date
FAQ
What was the nature of the material definitive agreement entered into by Educational Development Corporation on October 27, 2025?
The provided excerpt does not specify the nature of the material definitive agreement entered into.
What were the reasons for the termination of the material definitive agreement on October 27, 2025?
The excerpt does not provide details regarding the reasons for the termination of the material definitive agreement.
Are the financial statements and exhibits filed with this 8-K publicly available?
The filing indicates that financial statements and exhibits are included, and as a public document, they are generally available through the SEC's EDGAR system.
What is the primary business of Educational Development Corporation?
Educational Development Corporation's Standard Industrial Classification is 'WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]'.
When was Educational Development Corporation incorporated and in which state?
Educational Development Corporation was incorporated in Delaware.
Filing Stats: 1,022 words · 4 min read · ~3 pages · Grade level 11.5 · Accepted 2025-10-28 17:29:53
Key Financial Figures
- $32,200,000 — mplex per the executed Contract totaled $32,200,000. The proceeds from the sale were utiliz
- $8.00 — ars, and the initial lease rate will be $8.00 per square foot, with 2.5% annual escal
- $30.0 m — , including interest, was approximately $30.0 million, which satisfies all of the Compa
Filing Documents
- educ8k102825.htm (8-K) — 34KB
- educex10-01.htm (EX-10.01) — 177KB
- educex99-1.htm (EX-99.1) — 7KB
- 0001185185-25-001554.txt ( ) — 427KB
- educ-20251027.xsd (EX-101.SCH) — 3KB
- educ-20251027_lab.xml (EX-101.LAB) — 33KB
- educ-20251027_pre.xml (EX-101.PRE) — 22KB
- educ8k102825_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL AGREEMENT On October 27, 2025, Educational Development Corporation ("EDC", the "Company" or "Seller") completed the sale and leaseback of the Company's headquarters and distribution warehouse located at 5400-5402 South 122 nd East Avenue, Tulsa, Oklahoma 74146 (the "Hilti Complex") to 10Mark 10K Industrial, LLC, a Delaware limited liability company ("Buyer"). The agreed upon sale price of the Hilti Complex per the executed Contract totaled $32,200,000. The proceeds from the sale were utilized to pay off the Term Loans and Revolving Loan outstanding in the Credit Agreement with the Company's Bank. At closing, EDC assigned the existing third-party tenant leases to the Buyer and executed a separate Triple-Net Lease (the "Lease") for its occupied space in the Hilti Complex. The terms of the lease is 10 years, and the initial lease rate will be $8.00 per square foot, with 2.5% annual escalations. The Seller will also have two five-year renewal and extension options with 2.5% increases annually in the base rental rate of the preceding year. The Lease will also include triple-net terms, where the Seller and other tenants will be responsible for utilities, insurance, property taxes, and regular maintenance. The foregoing descriptions are a summary of the material terms of the Contract and are not complete. These descriptions are qualified in all respects subject to the actual provisions of the sale Contract and Lease with the Buyer.
02 TERMINATION
ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT On October 27, 2025, Educational Development Corporation repaid in full all outstanding indebtedness and terminated all commitments and obligations under its Credit Agreement dated August 9, 2022 between the Company and BOKF, NA. The Company's payment to BOKF, NA, including interest, was approximately $30.0 million, which satisfies all of the Company's debt obligations with BOKF, NA. The Company did not incur any early termination penalties as a result of the repayment of indebtedness or termination of the Amended and Restated Credit Agreement. In connection with the repayment of outstanding indebtedness, the Company was automatically and permanently released from all security interests, mortgages, liens and encumbrances under the Amended and Restated Credit Agreement with BOKF, NA. The material terms of the Amended and Restated Credit Agreement with BOKF, NA are described in the Company's Form 10-K filed with the Securities and Exchange Commission (" SEC ") on May 19, 2025. The foregoing summary of the Amended and Restated Credit Agreement with BOKF, NA is not complete and is qualified in all respects subject to the actual provisions by reference to the Amended and Restated Loan Agreement with BOKF, NA dated August 9, 2022, and First and Second Amendment dated December 22, 2022, and May 10, 2023 which were filed as Exhibits 10.16, 10.17 and 10.18, respectively, to the Company's Form 10-K dated February 28, 2023; the Third Amendment dated August 9, 2023, which was filed as Exhibit 10.5 on the Company's 10-Q dated August 31, 2023. The Fourth Amendment dated November 30, 2023, which was filed as Exhibits 10.6 to the Company's Form 10-Q dated November 30, 2023; the Fifth Amendment dated June 13, 2024 which was filed as Exhibit 10.7 to the Company's Form 10-Q dated August 31, 2024; and the Sixth Amendment dated October 7, 2024 which was filed as Exhibit 10.9 to the Company's Form 10-Q dated November 30, 2024; a
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) EXHIBITS Exhibit Number Description 10.01 Lease Agreement dated October 20, 2025 99.1 Press Release dated October 28, 2025 104 Cover Page Interactive Data File (formatted as Inline XBRL) 1 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: October 28, 2025 2