Current Report Filing (8-k)
26 September 2019 - 6:52AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 19, 2019
EACO
CORPORATION
(Exact name of registrant as specified in its charter)
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Florida
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000-14311
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59-2597349
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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1500 N. Lakeview Loop
Anaheim, CA 92807
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including
area code: (714) 876-2490
Not applicable
(Former name or Former Address if Changed
Since Last Report.)
Securities registered or to be registered pursuant to Section
12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common stock, par value $0.01 per share
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EACO
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OTCQB
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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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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 this 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.
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Item 1.01. Entry into a Material Definitive
Agreement.
Bisco Industries, Inc. (“Bisco”),
a wholly-owned subsidiary of EACO Corporation (”EACO”), entered into a Standard Offer, Agreement and Escrow Instructions
for Purchase of Real Estate on September 19, 2019 (the “Purchase Agreement”) with Charles S. Alemi or his assignee
(the “Buyer”). Pursuant to the Purchase Agreement, the Company agreed to sell to Buyer the Company’s real property
that currently houses its corporate headquarters and Anaheim distribution center, located at 1500 Lakeview Loop in Anaheim, California
(the “Premises”), for a purchase price of $7,075,000 (such transaction, the “Property Sale”). The Property
Sale will be completed through an escrow process and is subject to customary closing conditions. The Company expects to close the
Property Purchase within 75 days of the execution of the Purchase Agreement. Pursuant
to the Purchase Agreement, Bisco will leaseback the Property until January 31, 2020 at the rate of $30,000 per month on a gross
basis.
The foregoing description of the Purchase
Agreement is not complete and does not purport to be complete, and is qualified in its entirety by reference to the actual document,
which is attached to this report as an exhibit and is incorporated herein by reference.
Item 9.01. Financial Statements and
Exhibits.
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.
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Dated: September 25, 2019
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EACO CORPORATION
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By:
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/S/ MICHAEL NARIKAWA
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Michael Narikawa,
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Principal Accounting Officer
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EACO (PK) (USOTC:EACO)
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