Current Report Filing (8-k)
12 7월 2016 - 5:23AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
July 8, 2016
Kaanapali Land, LLC
(Exact Name of Registrant as Specified in Its
Charter)
Delaware
(State
or Other Jurisdiction
of Incorporation)
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#0-50273
(Commission
File Number)
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01-0731997
(IRS Employer
Identification No.)
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900 N. Michigan Ave., Chicago, Illinois 60611
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
Telephone Number, Including Area Code:
312-915-1987
Not Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (
see
General Instruction A.2. below):
o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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1
Item 1.02
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Termination of a Material Definitive Agreement
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On January 7, 2016,
KLC Holding Corp. (“KLC”) and various of its subsidiaries (“KLC Subsidiaries”) entered into a sales agreement
(“KLC Sales Agreement”) with an unrelated third party for the sale of substantially all of the remaining real property
and related assets of the Registrant on the island of Maui, along with the stock and membership interests of certain KLC Subsidiaries
(the “KLC Sales Property”). The KLC Sales Agreement called for a scheduled sales price for the KLC Sales Property of
approximately $95 million, before costs of sale, as adjusted for certain revenues and expenditures of the KLC Subsidiaries.
By virtue of the
buyer’s failure to deliver its “Acceptance Notice” prior to the expiration of the “Due Diligence Period”
in accordance with the terms of the KLC Sales Agreement, the KLC Sales Agreement terminated. On July 8, 2016, the buyer requested
the release by the escrow agent of its deposit.
2
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf
by the undersigned hereunto duly-authorized.
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Kaanapali Land, LLC
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July 11, 2016
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By:
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/s/ Gailen J. Hull
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Gailen J. Hull
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Chief Financial Officer
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3
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