Item 7.01 Regulation FD Disclosure.
On August 17, 2020, BlueLinx Holdings Inc. (the "Company") issued a press
release announcing the transactions described in Item 8.01 of this Current
Report. A copy of the press release is furnished as Exhibit 99.1 to this Current
Report and is incorporated herein by reference.
Item 8.01 Other Events.
On August 14, 2020, the Company, through certain of its subsidiaries, completed
a saleleaseback transaction (the "Sale-Leaseback Transaction") with affiliates
of Brennan Investment Group (collectively, the "Buyer") with respect to the
Company's warehouse facility located in Denver, Colorado. The aggregate purchase
price for the Sale-Leaseback Transaction was $11.0 million, and after security
deposits, expenses, and other items, the Company received net proceeds of
approximately $10.6 million. Net proceeds of the Sale-Leaseback Transaction were
used to repay indebtedness under the Company's term loan facility.
The Sale-Leaseback Transaction was completed pursuant to a Purchase and Sale
Agreement, dated June 1, 2020, between certain subsidiaries of the Company and
the Buyer (as subsequently amended, the "Purchase and Sale Agreement"). Upon
completion of the Sale-Leaseback Transaction, a subsidiary of the Company
entered into a lease on the property that provides for, among other things, a
customary security deposit that will be reduced if the Company satisfies certain
financial milestones.
The foregoing summary does not purport to be complete and is subject to, and
qualified in its entirety by, reference to the full text of the Purchase and
Sale Agreement, the form of which will be filed as an exhibit to the Company's
Quarterly Report on Form 10- Q for the quarter ending September 26, 2020.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
The following exhibits are attached with this Current Report on Form 8-K:
Exhibit No. Exhibit Description
99.1 Press Release of BlueLinx Holdings Inc., dated August 17, 2020.
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