STR HOLDINGS, INC. : Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits (form 8-K)

Item 2.01 Completion of Acquisition or Disposition of Assets.

On December 12, 2019, STR Holdings, Inc. (the "Company"), through Specialized Technology Resources (Malaysia) SDN BHD, a wholly owned Malaysian subsidiary of the Company ("STR Malaysia"), completed the previously announced sale of its dormant Johor, Malaysia facility ("Malaysia Property") to JB Cocoa SDN BHD (the "Purchaser"), pursuant to the terms and conditions of the Purchase and Sale Agreement, effective January 10, 2019 (the "Purchase Agreement"), by and between STR Malaysia and the Purchaser. The Malaysian Property has been dormant since 2015. The sale price for the Malaysia Property was MYR 22.5 million (approximately $5.4 million as of the date hereof) in cash. After the payment of closing costs, including realtor fees, the Company expects net proceeds from the sale to be approx. $5.3 million.

The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits.




Exhibit
No.                                      Description
  10.1       Purchase and Sale Agreement, effective January 10, 2019, by and
           between Specialized Technology Resources (Malaysia) SDN BHD and JC
           Cocoa SDN BHD (filed as Exhibit 10.1 to the Company's Form 8-K filed on
           February 27, 2019, and incorporated herein by reference).

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