LSB INDUSTRIES, INC. (NYSE:LXU) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets.
On May 11, 2017, Zena Energy L.L.C. (“Zena”), an Oklahoma limited liability company which is an indirect, wholly owned subsidiary of LSB Industries, Inc. (the “Company”), entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with BKV Chelsea, LLC, a Delaware limited liability company (the “Purchaser”). Under the terms of the Purchase and Sale Agreement, Zena agreed to sell to the Purchaser substantially all of its assets, including Zena’s right, title, and interest in all of its oil and natural gas properties (the “Properties”) located in Wyoming County, Pennsylvania for a purchase price of $16,250,000, subject to customary adjustments to reflect the operation of the Properties prior to Closing.
On June 26, 2017, Zena completed the sale of the Properties to the Purchaser for $16,270,193.76 net of closing adjustments.
About LSB INDUSTRIES, INC. (NYSE:LXU)
LSB Industries, Inc. is a diversified holding company engaged in manufacturing operations through its subsidiaries. The Company’s segments are Chemical Business, Climate Control Business and Other. Its Chemical Business segment manufactures and sells nitrogen-based chemical products for the agricultural, industrial and mining markets. Its Climate Control Business manufactures and sells a range of heating, ventilation and air conditioning (HVAC) products that include water source and geothermal heat pumps, hydronic fan coils, custom air handlers, modular geothermal and other chillers, and other related products and services. These products are used in commercial or institutional and residential new buildings construction, renovation of existing buildings and replacement of existing systems. Its Other segment sells industrial machinery and related components to machine tool dealers and end users located in North America.
