Current Report Filing (8-k)
August 30 2019 - 5:08PM
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): August 30, 2019
CHARAH SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Delaware
|
|
001-38523
|
|
82-4228671
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
12601 Plantside Drive, Louisville, Kentucky
|
|
40299
|
(Address of principal executive offices)
|
|
(Zip Code)
|
(502) 245-1353
(Registrants telephone number, including area code)
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:
|
☐
|
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))
|
Securities registered pursuant to Section 12(b) of the Act:
|
|
|
|
|
Title of each class
|
|
Trading
Symbol(s)
|
|
Name of each exchange
on which registered
|
Common Stock, par value $0.01 per share
|
|
CHRA
|
|
New York Stock Exchange
|
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).
Emerging growth company ☒
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. ☐
Item 1.01.
|
Entry into a Material Definitive Agreement.
|
On August 30, 2019, Charah Solutions, Inc. (the Company) announced that it has reached an agreement to settle certain claims
related to the early termination of the ash beneficiation contract of Charah, LLC (Charah), a subsidiary of the Company, for Charahs Brickhaven location. In connection with the settlement, on August 30, 2019, Charah
entered into a confidential settlement agreement and release (the Agreement) with Duke Energy Business Services LLC, as agent for and on behalf of Duke Energy Carolinas, LLC and Duke Energy Progress, LLC (collectively, Duke
Energy).
Pursuant to the terms of the Agreement, Duke Energy agreed to pay Charah the total sum of $80,000,000. Of that amount,
$72,500,000 was paid on August 30, 2019, and the remainder is to be paid upon the occurrence of certain customary conditions as set forth in the Agreement. Duke Energy and Charah further mutually agreed to release one another from certain claims
arising out of the ash beneficiation contract for the Brickhaven location.
The foregoing description of the terms and conditions of the
Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01.
|
Financial Statements and Exhibits.
|
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 hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
CHARAH SOLUTIONS, INC.
|
|
|
|
|
Date: August 30, 2019
|
|
|
|
By:
|
|
/s/ Scott A. Sewell
|
|
|
|
|
|
|
Scott A. Sewell
|
|
|
|
|
|
|
President and Chief Executive Officer
|
Charah Solutions (NYSE:CHRA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Charah Solutions (NYSE:CHRA)
Historical Stock Chart
From Sep 2023 to Sep 2024