- Basic Energy Services (OTC: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.