Current Report Filing (8-k)
November 09 2020 - 4:06PM
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):
November 5, 2020
Dover Motorsports, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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001-11929
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51-0357525
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(State or other jurisdiction of incorporation)
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Commission File Number
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(IRS Employer Identification No.)
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1131 N. DuPont Highway
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Dover, Delaware
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19901
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number, including
area code (302) 883-6500
N/A
(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:
¨ 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 Class
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Trading Symbol(s)
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Name of Exchange on Which Registered
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Common Stock, $.10 Par
Value
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DVD
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New York Stock
Exchange
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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 Defenitive
Agreement
On November 5, 2020, the registrant’s
wholly-owned subsidiary, Nashville Speedway, USA, Inc. entered into an agreement to sell approximately 350 acres of property
near our Nashville Superspeedway facility to a subsidiary of Panattoni Development Company for a purchase price of $14,355,000
subject to certain closing adjustments. The sum of $500,000, which is non-refundable except in the event of a default by the seller
that is not cured within the applicable cure period, is required to be deposited in trust by the buyer on or before November 19,
2020. The transaction is expected to be consummated on or before May 31, 2021. None of the land subject to this agreement
comprises land upon which the superspeedway has been constructed.
The description above is qualified
in its entirety by reference to the Purchase and Sale Agreement dated as of November 5, 2020 between Nashville Superspeedway,
USA, Inc. and PDC TN/FL, LLC which is attached to this Form 8-K as Exhibit 10.1.
Item 9.01 Financial Statements
and Exhibits
(d) 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.
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Dover Motorsports, Inc.
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/s/ Denis McGlynn
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Denis McGlynn
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President and Chief Executive Officer
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Dated: November 9, 2020
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