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LAWS > SEC Filings for LAWS > Form 8-K on 16-May-2014All Recent SEC Filings

Show all filings for LAWSON PRODUCTS INC/NEW/DE/

Form 8-K for LAWSON PRODUCTS INC/NEW/DE/


16-May-2014

Entry into a Material Definitive Agreement, Financial Statements and


Item 1.01 Entry into a Material Definitive Agreement.

On April 24, 2014, Lawson Products, Inc. ("Lawson"or the "Company") announced that it had entered into a letter of intent to sell the Reno, Nevada distribution center. On May 12, 2014, the Company entered into a Real Estate Sales Contract and Escrow Instructions ("Sales Contract") by and between KTI Property Trust III, a Maryland real estate investment trust (the "Buyer"), to sell the Reno, Nevada distribution center for $8.7 million. The Sales Contract is subject to the Buyer entering into an agreement to lease approximately one-half of the building to Lawson for 10 years for a total of approximately $4.6 million to be paid over the term of the lease in accordance with the base rent schedule included in the lease agreement. The consummation of the transaction contemplated by the Sales Contract is subject to a number of customary closing conditions and is expected to close in the second quarter of 2014.

The foregoing summary description of the Sales Contract is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 10.1 hereto and incorporated by reference herein.



Item 9.01 Financial Statements and Exhibits.

d) Exhibits

10.1   Real Estate Sales Contract and Escrow Instructions, dated as of May 12,
       2014, by and between Lawson Products, Inc. and KTR Property Trust III, a
       Maryland real estate investment trust.


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