ADDvantage Technologies Group Announces Sale of Property in Broken Arrow, Oklahoma
ADDvantage Technologies Group, Inc. (AEY)
US:NASDAQ Investor Relations:
addvantagetechnologies.com/investor-relations/4544760689
Company Research
Source: GlobeNewswire
BROKEN ARROW, Okla., Oct. 15, 2018 (GLOBE NEWSWIRE) -- ADDvantage Technologies Group, Inc. (NASDAQ: AEY) today announced that it has signed an agreement to sell its property in Broken Arrow, Oklahoma, to Dave Chymiak, Board member and Chief Technology Officer of ADDvantage Technologies, for $5.0 million. The sale of the property is expected to close before the end of October. Proceeds from the sale of the property are intended to be used by the Company to pay off its remaining indebtedness of $2.5 million to Bank of Oklahoma, N.A., which matures on October 31, 2018. Excess proceeds will be used to fund working capital of the Company and its subsidiaries. The facility in Broken Arrow, Oklahoma, consists of the Company’s headquarters, additional offices, warehouse and a service center of approximately 162,500 square feet on ten acres. Upon closing of the sale, Tulsat, LLC, one of the Company’s subsidiaries, will enter into a ten year lease for the facility with Mr. Chymiak, which
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News
- ADDvantage Technologies Group, Inc. (NASDAQ: AEY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- ADDvantage Technologies Group, Inc. (NASDAQ: AEY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- ADDvantage Technologies Group, Inc. (NASDAQ: AEY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
AEY
Sec Filings
- 2/5/24 - Form 8-K
- 2/1/24 - Form 8-K
- AEY's page on the SEC website