Educational Development Corporation Considers Amendment to Extend Due Diligence Period on Real Estate Purchase

Educational Development Corporation (NASDAQ: EDUC) recently disclosed in an 8-K SEC filing that the company is contemplating an amendment to extend the due diligence period concerning the sale of its headquarters and distribution warehouse. The verbal confirmation received on January 21, 2025, from Partner Holdings, the potential buyer, indicated a request for an extension on the due diligence period as part of the Commercial Real Estate Contract.

The proposed Amendment, drafted by the Buyer and received on January 24, 2025, outlines an extension period of 30 days and a delay in the earnest money deposit, among other conditions. Educational Development Corporation is currently reviewing the terms put forth in the Amendment, which are crucial for the potential sale of the Hilti Complex located at 5400-5402 South 122nd East Avenue, Tulsa, Oklahoma 74146.

It’s important to note that the details provided in the summary of the material terms of the Amendment are not exhaustive and remain subject to the actual provisions of the sale Contract and Lease with the Buyer. Educational Development Corporation is expected to further evaluate and respond to the proposed Amendment in due course.

The company, led by President and Chief Executive Officer Craig M. White, ensured the filing of this report in compliance with the Exchange Act. The document was duly signed on behalf of the Registrant. The report was officially signed on January 27, 2025, concluding the disclosure regarding the potential amendment for extending the due diligence period for the real estate purchase agreement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Educational Development’s 8K filing here.

Educational Development Company Profile

Educational Development Corporation, a publishing company, operates as a publisher of educational children's books in the United States. It operates through two segments, PaperPie and Publishing. The company offers various books, including touchy-feely board books, activity books and flashcards, adventure and search books, art books, sticker books, and foreign language books, as well as internet-linked books comprising science and math titles, and chapter books and novels.