BASX - Basic Energy Services closes sale-leaseback transaction
Basic Energy Services (BASX) completed a sale-leaseback transaction related to certain real property in Los Angeles County, California; it entered into a simultaneous lease of the property for an initial term of three years.The purchase price for the property consisted of $10.5M, subject to a holdback of ~$2.6M for certain improvements to be constructed at the property.The company is entitled to reimbursement of any remaining balance of said holdback funds to the extent not fully expended for the intended purpose.
For further details see:
Basic Energy Services closes sale-leaseback transaction