8-K - 1606 Corp. | StockGist

AI Analysis

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1606 Corp. entered into a non-binding term sheet for the proposed acquisition of a 55 MW power generation facility, climate-controlled data-center ready warehouse, and related property in Lufkin, Texas, for approximately $11.67 million, consisting of $7.5 million cash and assumption of $4.17 million indebtedness. The transaction is expected to close on or before March 11, 2026, subject to definitive agreements and customary conditions.

Key Takeaways

1Entered non-binding term sheet for acquisition of 55 MW power generation facility and 50,000 sq ft data-center ready warehouse in Lufkin, Texas

2Total purchase consideration of $11.67 million: $7.5 million cash at closing and $4.17 million assumption of existing indebtedness

3Acquisition includes approximately 132 acres of real property, equipment, improvements, permits, and related assets

4Exclusivity period with 15-day inspection; $500,000 earnest money upon definitive Purchase Agreement execution

5Expected closing on or before March 11, 2026

6Negotiations ongoing for acquisition of Sim Agro Inc. to operate the power generation

Current Report Details

Event Type

Regulation Fd

Exhibits Only

Disclosure

Voluntary

Variant

8-K

Items Reported

7.01

and in the press release shall not be incorporated by reference into any filing with the SEC made by the Company, whether made before or after the date hereof,

Regulation Fd

9.01

. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated February 17, 2026 104 Cover Page Interactive Data File (embe

Exhibits Only

Source Document

Transaction Details

Acquisition / Disposition

Target: power generation facility, climate-controlled data-center ready facility, and related property located in Lufkin, Texas (55 MW power plant, 50,000 sq ft warehouse, 132 acres)
Consideration: $11.67 million ($7.5 million cash at closing, assumption of $4.17 million existing indebtedness)
Structure: non-binding term sheet

•15-day inspection period
•exclusivity period
•definitive agreements negotiation
•$500,000 earnest money deposit upon execution of definitive Purchase Agreement
•expected closing on or before 2026-03-11
•customary closing conditions

Exhibits (2)

8-K

FORM 8-K

99.1

PRESS RELEASE