CHICAGO RIVET & MACHINE CO false 0000019871 0000019871 2022-09-27 2022-09-27

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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 27, 2022

 

 

Chicago Rivet & Machine Co.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Illinois   000-01227   36-0904920

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

                                        901 Frontenac Road, Naperville, Illinois                                            60563
                                                (Address of Principal Executive Offices)                                                       (Zip Code)

Registrant’s telephone number, including area code (630) 357-8500

(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):

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, par value $1.00 per share   CVR   NYSE American (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. ☐

 

 

 


Item 2.01. Completion of Acquisition or Disposition of Assets.

As previously disclosed in a Current Report on Form 8-K filed on August 17, 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 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. On September 27, 2022, the Company’s sale of the facility to the Purchaser was completed for a selling price of $5,350,000 in cash, less customary closing costs.

The foregoing description of the terms of the PSA does not purport to be complete and is qualified in its entirety by reference to such agreement, which is filed herewith as Exhibit 2.1 and incorporated herein by reference.

Concurrently with the completion of the sale of the Naperville facility described in Item 2.01 of this report, the Company and the Purchaser entered 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 payable by the Company under the Lease is $12,500 for the period from the closing until December 31, 2022 and $8,500 for the period from January 1, 2023 to June 30, 2023.

Item 9.01. Financial Statements and Exhibits.

 

(d)   

Exhibits

Exhibit No.

  

Description

  2.1    Purchase and Sale agreement.
104    Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101).


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: September 30, 2022   Michael J. Bourg
  President and Treasurer
Chicago Rivet and Machine (AMEX:CVR)
Graphique Historique de l'Action
De Jan 2023 à Fév 2023 Plus de graphiques de la Bourse Chicago Rivet and Machine
Chicago Rivet and Machine (AMEX:CVR)
Graphique Historique de l'Action
De Fév 2022 à Fév 2023 Plus de graphiques de la Bourse Chicago Rivet and Machine