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): December 28, 2017
SUN HYDRAULICS CORPORATION
(Exact name of registrant as specified in its charter)
Florida | 0-21835 | 59-2754337 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
1500 West University Parkway, Sarasota, Florida |
| 34243 |
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s telephone number, including area code: (941) 362-1200
(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 Instructions A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 2.01.Completion of Acquisition or Disposition of Assets.
On November 1, 2017, Sun Hydraulics Corp. reported in a Current Report on Form 8-K that Enovation Controls, LLC (“Enovation”) had entered into a Real Estate Purchase Contract with Legacy Capital Group (“Legacy”) to effect a purchase of the manufacturing facility and corporeal offices that Enovation was leasing from Legacy. On December 28, 2017, Enovation completed its acquisition from Legacy of an approximately 141,264 sq. ft. manufacturing facility, and a two-story office building of approximately 31,744 sq. ft., together with all easements, right-of-ways, parking, access rights and appurtenances thereto (collectively, the “Property”).
The purchase price was $11,250,000. Enovation funded the purchase primarily through an intercompany loan provided by its parent, Sun Hydraulics Corporation.
The foregoing description of the real estate purchase and sale does not purport to be complete and is qualified in its entirety by reference to the Real Estate Contract, a copy of which was filed as Exhibit 99.1 to the November 1, 2017 Form 8-K and the Amendment to Real Estate Contract, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits.
99.1 Amendment to Real Estate Contract dated December 28, 2017.
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
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| SUN HYDRAULICS CORPORATION | |
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| By: | /s/ Tricia L. Fulton |
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| Tricia L. Fulton |
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| Chief Financial Officer (Principal Financial and Accounting Officer) |
Dated: December 29, 2017
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