Eastman Kodak’s Retirement Income Plan Trust completes sale of certain assets

In a regulatory 8-K filing earlier, the company states: “As previously disclosed in the Current Report on Form 8-K filed by Eastman Kodak (KODK) Company with the Securities and Exchange Commission on November 25, 2024, on November 20, 2024 the Kodak Retirement Income Plan Trust, in its capacity as holder of assets for the benefit of the Kodak Retirement Income Plan, entered into a Purchase and Sale Agreement with Mastercard Foundation. The information contained in the Signing Form 8-K under Item 1.01 and the first two paragraphs under Item 8.01 is incorporated by reference in this Current Report, and capitalized terms not defined herein have the respective meanings given to such terms in the Signing Form 8-K. Pursuant to the Agreement, on December 31, 2024 the Trust sold to the Buyer KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $752.8 million and received effective gross purchase price proceeds of $540.6 million, all of which have been received. All KRIP Illiquid Assets contemplated to be sold pursuant to the Agreement were sold and transferred at the Mastercard Closing (the reduction from the amounts reported in the Signing Form 8-K is due to the failure of two private equity partnership interests to transfer because in one case the required consent of the applicable general partner could not be obtained on acceptable terms and in the other case another limited partner in the fund exercised a right of first refusal). Also on December 31, 2024, pursuant to the Other Agreements the Trust sold to four other investors KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $87.3 million and received effective gross purchase price proceeds of $61.7 million, all of which proceeds have been received except for $9.0 million of cash proceeds which are payable on a deferred basis on December 31, 2025. In addition, one immaterial private equity partnership interest originally to be sold to Mastercard pursuant to the Agreement was instead sold to another limited partner in the applicable fund in accordance with the terms of a right of first refusal that applied to such fund.”