UNITED STATES | |||
FORM 8-K | |||
CURRENT REPORT | |||
Date of Report (Date of earliest event reported)March 2, 2007 | |||
A. T. CROSS COMPANY | |||
Rhode Island | 1-6720 | 05-0126220 | |
One Albion Road, Lincoln, Rhode Island | 02865 | ||
Registrant's telephone number, including area code(401) 333 1200 | |||
N/A |
Section 1 - Registrant's Business and Operations
Item 1.01 - Entry into a Material Definitive Agreement
On March 2, 2007, A.T. Cross Company (the "Company") entered into a lease agreement with Albion Crossings, LLC to lease back a portion of its former facility at One Albion Road, Lincoln, Rhode Island for manufacturing, warehousing and office space. The inital term of this agreement is ten years with two extension options for five years each.
Section 8 - Other Events
Item 8.01 - Other Events
On March 2, 2007, the Company sold its manufacturing, warehouse and office facility at One Albion Road, Lincoln, Rhode Island to Albion Crossing, LLC for a gross sales price of $15.75 million. At the same time, the Company entered into a lease with Albion Crossing, LLC to lease back a portion of its former facility at One Albion Road, Lincoln, Rhode Island for manufacturing, warehousing and office space. The initial term of this lease is ten years with two extension options for five years each.
On March 5, 2007, A.T. Cross Company issued a press release announcing the completion of a sale leaseback transaction of its Rhode Island global headquarters and manufacturing facility.
Section 9 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits
(d)Exhibits:
99.1 Lease Agreement
99.2 March 5, 2007 Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
A. T. CROSS COMPANY | |
Date:March 8, 2007 | KEVIN F. MAHONEY |