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NTIC > SEC Filings for NTIC > Form 8-K on 15-Jul-2014All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial St

Item 1.01 Entry into a Material Definitive Agreement.

On July 14, 2014, Northern Technologies International Corporation ("NTIC") entered into a purchase and sale agreement ("Purchase Agreement") with Glenwillow Holdings, LLC ("Seller") pursuant to which NTIC agreed to purchase from Seller, upon the terms and subject to the conditions therein, certain real property and a building located on such real property located in Beachwood, Ohio, for the purchase price of $1.1 million in cash. NTIC intends to use the facility as office and warehouse space.

Each of NTIC and Seller has made customary representations, warranties and covenants in the Purchase Agreement. The completion of NTIC's purchase is subject to customary closing conditions, including, among others, the accuracy of the parties' representations and warranties, no material new title exceptions and no material and adverse change to the physical condition of the property. Subject to the closing conditions, NTIC expects that the purchase will be completed within approximately 60 days.

The foregoing description of the Purchase Agreement is a summary of the material terms of such agreement, does not purport to be complete and is qualified in its entirety by reference to the complete text of the Purchase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by this reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

No. Description Purchase and Sale Agreement dated as of July 14, 2014 between Northern Technologies International Corporation and Glenwillow Holdings,
10.1 LLC (filed herewith)

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