ADDvantage Technologies Completes 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., Dec. 04, 2018 (GLOBE NEWSWIRE) -- ADDvantage Technologies Group, Inc. (NASDAQ: AEY), today announced it has completed the previously announced sale of its property located at 1221 E. Houston Street, Broken Arrow, Oklahoma for $5.0 million. The sale was made to David Chymiak, LLC, a company controlled by David Chymiak, the Company’s Chief Technology Officer, director and a substantial shareholder. Under the terms of the Agreement for the Purchase and Sale of Real Estate, the Company’s subsidiary, Tulsat, LLC, will lease the property from David Chymiak, LLC, therefore allowing its Cable TV operations at the property to continue uninterrupted. Since the Company already paid off its remaining indebtedness of $2.5 million to Bank of Oklahoma, N.A., which matured on October 31, 2018, the proceeds from the sale of the property will be used to fund working capital of the Company and its subsidiaries. Joe Hart, CEO, said, “With the completion of the sale of the Broken
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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