SEACOR Holdings Inc. (NYSE:CKH) Files An 8-K Completion of Acquisition or Disposition of Assets

SEACOR Holdings Inc. (NYSE:CKH) Files An 8-K Completion of Acquisition or Disposition of Assets

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Item 2.01 Completion of Acquisitions or Disposition of Assets.

At 11:59 p.m., New York City time, on June 1, 2017 (the
“Distribution Date”), SEACOR Holdings Inc. (SEACOR) effected the
previously announced spin-off (the Spin-Off) of its offshore
marine services business that is conducted by its wholly-owned
subsidiary, SEACOR Marine Holdings Inc. (SEACOR Marine), by means
of a distribution of all of the outstanding shares of common
stock of SEACOR Marine on a pro rata basis to all of the holders
of common stock of SEACOR. SEACOR Marine is now an independent
public company trading under the symbol “SMHI” on the New York
Stock Exchange.
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
(b)
In connection with the Spin-Off, each of Mr. John Gellert and Mr.
Matthew R. Cenac, Co-Chief Operating Officer and Executive Vice
President and Chief Financial Officer of SEACOR, respectively,
tendered his resignation, effective immediately prior to the
Spin-Off. In connection with his separation from SEACOR, and in
recognition of his services to SEACOR in connection with the
Spin-Off, Mr. Cenac received a lump sum payment of $1 million
from SEACOR, which was paid on June 1, 2017. The distribution of
SEACOR Marine common stock that Mr. Cenac received in respect of
his SEACOR restricted shares were fully vested as of the
Distribution Date.
The Board of Directors of SEACOR has appointed Mr. Bruce P. Weins
to the position of Senior Vice President and Chief Financial
Officer, effective upon the Spin-Off at an annual salary of
$285,000 per annum.
Item 8.01 Other Events
On June 2, 2017, SEACOR issued a press release announcing the
completion of the Spin-Off. A copy of the press release is
attached hereto as Exhibit 99.1.
In connection with the Spin-Off, Evan Behrens, a SEACOR employee
who separated from SEACOR immediately prior to the Spin-Off to
join the board of SEACOR Marine, received a lump sum payment of
$350,000 from SEACOR, which was paid on June 1, 2017.
Item 9.01 Financial Statements and Exhibits.
(b) Pro forma financial information
Unaudited pro forma financial information of SEACOR required by
Article 11 of Regulation S-X is attached hereto as Exhibit 99.2
and is incorporated by reference herein.
(d) Exhibits.
Exhibit No.
Description
99.1
Press Release of SEACOR Holdings Inc., dated June 2,
2017.
99.2
Unaudited pro forma consolidated balance sheet of
SEACOR as of March 31, 2017 and unaudited pro forma
consolidated statements of income (loss) of the Company
for the three months ended March 31, 2017 and the
fiscal year ended December 31, 2016.


About SEACOR Holdings Inc. (NYSE:CKH)

SEACOR Holdings Inc., is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company’s segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products. Shipping Services segment operates a fleet of United States flag marine transportation related assets. Illinois Corn Processing segment produces alcohol used in the food, beverage, industrial and petrochemical end-markets. The Company also offers emergency and crisis services, lending and leasing activities, and noncontrolling investments in various other businesses.

SEACOR Holdings Inc. (NYSE:CKH) Recent Trading Information

SEACOR Holdings Inc. (NYSE:CKH) closed its last trading session down -2.01 at 37.43 with 388,496 shares trading hands.

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