Star Equity Holdings Inc.
11/10/2026 | Press release | Distributed by Public on 11/10/2026 16:30
Material Agreement, Financial Obligation (Form 8-K)
| Item 1.01. | Entry into a Material Definitive Agreement. |
Purchase Agreement
On November 9, 2026, 106 Bremer Avenue, LLC ("Property Owner"), a wholly owned subsidiary of Star Equity Holdings, Inc. (the "Company") entered into a Purchase and Sale Agreement (the "Colfax Purchase Agreement") with DWG Capital Partners, LLC ("DWG"), an unaffiliated third party, pursuant to which the Property Owner agreed to sell certain real property located at 106 Bremer Avenue, Colfax, WI ("Colfax Premises") to DWG, for a purchase price of $5.2 million, subject to the terms and conditions of the Colfax Purchase Agreement. The net proceeds to be received by the Property Owner from the Colfax Purchase Agreement will be reduced by transaction commissions and expenses incurred in connection with the sale.
Simultaneous with the consummation of the Colfax Purchase Agreement, Timber Technologies Solutions Inc. ("Timber Technologies"), a wholly owned subsidiary of the Company and current occupant of the Colfax Premises, will enter into a commercial single-tenant triple net lease (the "Lease Agreement") with DWG, or its permitted assignee, as landlord, pursuant to which Timber Technologies will lease back the Colfax Premises for a term commencing upon the execution of the Lease Agreement and ending on the 20th annual anniversary thereof, unless earlier terminated or extended for two renewal periods for an additional 10 years each in accordance with the terms of the Lease Agreement. The Lease is structured as an absolute net lease pursuant to which Timber Technologies will generally be responsible for insurance premiums, maintenance, utilities, taxes and other expenses, associated with the Colfax Premises. The Company will guarantee the obligations of Timber Technologies under the Lease Agreement.
The Company anticipates that the closing of the Colfax Purchase Agreement, including the execution of the Lease Agreement will occur in the fourth calendar quarter of 2026, subject to the satisfaction of certain customary closing conditions and contingencies for transactions of this type. DWG may terminate the Colfax Purchase Agreement for any reason or no reason before expiration of the due diligence period, as provided in the Colfax Purchase Agreement. Closing is scheduled to occur within 30 days after expiration of that period, subject to each party's right to extend closing once for up to 30 days and DWG's additional right to extend closing once for up to 15 days, and other extensions expressly provided in the Colfax Purchase Agreement. Accordingly, closing may occur after the fourth calendar quarter of 2026. Such contingencies include satisfactory title and insurance commitment, satisfactory survey review, environmental condition review, the Buyer's ability to obtain appropriate financing, release of all monetary liens on the Colfax Premises, and satisfaction of other due diligence items as set forth in the Colfax Purchase Agreement. Following the closing, Timber Technologies will continue to operate its business from the Colfax Premises pursuant to the Colfax Purchase Agreement and Lease Agreement.
The foregoing summary of the Colfax Purchase Agreement is qualified in its entirety by reference to the full text of such agreement, which is attached to this Current Report on Form 8-K as Exhibit 10.1, and which is incorporated by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. | ||||
The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.
Star Equity Holdings Inc. published this content on November 10, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 10, 2026 at 22:30 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]