Is this good enough for NOBL? why the dump at EOD.. i don't get it
Form 8-K for NOBLE INTERNATIONAL, LTD.
6-May-2009
Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement
On April 30, 2009, Noble International, Ltd. (the "Company") and certain of its subsidiaries entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") with Noble Intentions LLC, an affiliate of Patriarch Partners LLC. The Asset Purchase Agreement contemplates the sale of all of the Company's businesses relating to its domestic roll form and hot form operations, including all assets located at the Company's Butler, Indiana, South Haven, Michigan, Spring Lake, Michigan and Warren, Michigan facilities. The purchase price for the transaction is $11,000,000 plus certain assumed liabilities, subject to working capital and other adjustments.
The closing of the transaction contemplated by the Asset Purchase Agreement is subject to the satisfaction of various closing conditions including bankruptcy court approval. The closing is also subject to the Company not receiving a higher and better bid during the bankruptcy approval process. There can be no assurance that the proposed sale will receive bankruptcy court approval or that the transaction will be completed.
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