Item 1.01 Entry into a Material Definitive Agreement
On January 10, 2020, our wholly-owned subsidiary, Lex-Gen Woodlands, L.P.
("Lex-Gen Woodlands"), entered into a Real Estate Purchase and Sale Agreement
(the "Agreement") with FFC Equity Holdings, L.P. ("Purchaser").
Under the Agreement, we agreed to sell our facilities in The Woodlands, Texas
(the "Property") to Purchaser for a purchase price of $15.0 million. Such sale
is subject to normal and customary closing conditions, including a study period,
which extends until April 9, 2020, during which Purchaser may conduct
inspections, analyses and other studies of the Property and may terminate the
Agreement in its discretion. Such sale is also subject to the negotiation and
execution by the parties of a leaseback agreement for a period of six months
with respect to a portion of the Property concurrently with closing.
The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety by reference to the Agreement filed as an exhibit
hereto.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
10.1 - Real Estate Purchase and Sale Agreement, dated January 10,
2020, between Lex-Gen Woodlands, L.P. and FFC Equity Holdings,
L.P.
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