UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported)
(Exact Name of Registrant as Specified in Charter)
|
|
|||
(State or Other Jurisdiction of Incorporation) |
|
(Commission File Number |
|
(IRS Employer Identification No.) |
(Address of Principal Executive Offices) |
(Zip Code) |
Registrant's telephone number, including area code (
____________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
(Trading privileges only, not registered) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of the chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 1.01. Entry into a Material Definitive Agreement.
On August 12, 2022, Chicago Rivet & Machine Co. (the “Company”) entered into a Purchase and Sale Agreement (the “PSA”) with Frontenac Properties LLC (the “Purchaser”) pursuant to which the Company has agreed, subject to the terms and conditions of the PSA, to sell its facility in Naperville, Illinois, in which the Company headquarters and warehouse space are located, to the Purchaser. The sale price for the property is $5,350,000 subject to certain adjustments as provided in the PSA. Consummation of the transaction is subject to inspection, title and other contingencies. Concurrently with the closing under the PSA, the Company and Purchaser are expected to enter into a lease agreement (the “Lease”) pursuant to which the Company will lease the warehouse portion of the Naperville facility from the Purchaser until December 31, 2022 and the office portion until June 30, 2023. The monthly rent will be $12,500 for the period from the closing until December 31, 2022 and $8,500 for the period between December 31, 2022 and June 30, 2023.
This document contains certain "forward-looking statements" which are inherently subject to risks and uncertainties that may cause actual events to differ materially from those discussed herein. Factors which may cause such differences in events include, those disclosed under "Risk Factors" in our Annual Report on Form 10-K and in the other filings we make with the United States Securities and Exchange Commission. These factors, include among other things: the risk that the contingencies to the consummation of the transaction contemplated by the PSA may not be satisfied, the risk that the PSA may be terminated and the risk that the Company may otherwise be unable to sell its headquarters and warehouse facility on terms acceptable to the Company or at all. Many of these factors are beyond our ability to control or predict. Readers are cautioned not to place undue reliance on these forward-looking statements. We undertake no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
CHICAGO RIVET & MACHINE CO. |
|
|
|
By: /s/ Michael J. Bourg |
Date: August 17, 2022 |
Michael J. Bourg |
|
President and Treasurer |
Document and Entity Information |
Aug. 12, 2022 |
|---|---|
| Details | |
| Registrant CIK | 0000019871 |
| Document Type | 8-K |
| Document Period End Date | Aug. 12, 2022 |
| Entity Registrant Name | CHICAGO RIVET & MACHINE CO |
| Entity Incorporation, State or Country Code | IL |
| Securities Act File Number | 000-01227 |
| Entity Tax Identification Number | 36-0904920 |
| Entity Address, Address Line One | 901 Frontenac Road |
| Entity Address, City or Town | Naperville |
| Entity Address, State or Province | IL |
| Entity Address, Postal Zip Code | 60563 |
| City Area Code | 630 |
| Local Phone Number | 357-8500 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $1.00 per share |
| Trading Symbol | CVR |
| Security Exchange Name | NYSEAMER |
| Entity Emerging Growth Company | false |
| Amendment Flag | false |