KANP 8-K
Kaanapali Land LLC (KANP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
As previously disclosed, on June 3, 2024, Kaanapali Land Management Corp., an indirect wholly-owned subsidiary of Kaanapali Land, LLC (“KLMC”), entered into a property purchase agreement (“PVM Sales Agreement”) with Kauhale Development LLC (“Buyer”) for the sale of several parcels of land, aggregating approximately 241 acres (the “Property”) within Pu’ukoli’i Village Mauka, a master development plan area, located near the Kaanapali resort area, north of Lahaina, Hawaii.
The closing of the sale of the Property was subject to the satisfactory completion of the Buyer’s investigation and evaluation of the Property during a specified due diligence period. Prior to the expiration of the due diligence period on November 15, 2024, the Buyer had not delivered a notice to proceed, and therefore, the PVM Sales Agreement terminated pursuant to its terms as of 4:00 p.m., Hawaii Standard Time, on November 15, 2024.
The Buyer has since acknowledged termination of the PVM Sales Agreement,and the parties have provided instructions for the escrowed funds provided by the Buyer pursuant to the PVM Sales Agreement to be released in accordance therewith.
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SIGNATURE
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.
Date: December 6, 2024
| KAANAPALI LAND, LLC | ||
| By: |
Pacific Trail Holdings, LLC (sole member) | |
| /s/ Richard Helland | ||
| By: | Richard Helland, Vice President | |
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