ARTS WAY MANUFACTURING CO INC 8-K Filing

Ticker: ARTW · Form: 8-K · Filed: 2025-12-29T00:00:00.000Z

Sentiment: neutral

Filing Stats: 1,254 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2025-12-29 16:35:06

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 19, 2025, Art's-Way Manufacturing Co., Inc. (the "Company"), entered into a Solar System Purchase Agreement (the "Agreement") with Midwest Solar Installers ("Midwest") for the sale and installation of a solar energy system at the Company's principal executive offices. The contract price is $1,402,336, subject to a final site survey and engineering review and any amendments and change orders agreed to in writing by the Company and Midwest. The Company paid 5% of the contract price upon execution of the Agreement and agreed to pay 65% of the contract price no later than three days prior to the scheduled delivery of equipment to the project site and the remaining 30% of the contract price within three days of the system passing its final electrical inspection. The Company has granted Midwest a security interest in the solar equipment to secure payment of the contract price. The Company estimates that the solar project will eliminate 100% of its electricity costs for the next 30 years, which is the estimated useful life of the equipment, under the assumption that excess energy will be put back on the local grid. Current electricity costs are approximately $155,000 per year. The Company will also be eligible for Investment Tax Credits equal to 30% of the project cost limited by future taxable income. The Agreement contains termination provisions that allow each of the parties to terminate the Agreement in certain circumstances. The Company may terminate the Agreement in the following circumstances: 1. If Midwest proposes an increased contract price in a proposed change order following site assessment and engineering review; 2. If site assessment and engineering review recommend changes to the Company's infrastructure that the Company is unable or unwilling to complete; and 3. If Midwest proposes an increased contract price in a proposed change order based on an increase in the cost of equipment or

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description of Exhibit 10.1* Solar System Purchase Agreement, dated as of December 19, 2025, by and between Art's-Way Manufacturing Co., Inc., and Midwest Solar Installers 104 Cover Page Interactive Date File (embedded within the Inline XBRL document) * Portions of this exhibit have been redacted in compliance with Regulation S-K, Item 601(b)(10)(iv). SIGNATURE 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. Dated: December 29, 2025 ART ' S-WAY MANUFACTURING CO., INC. /s/ Michael W. Woods Michael W. Woods Chief Financial Officer

View on Read The Filing