Opening the filing
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Barnwell Industries Inc
8-K
NYSE American 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 2.01 Completion of Acquisition or Disposition of Assets.
On September 15, 2026, Barnwell Industries, Inc. (the “Company”) completed the previously announced sale of its remaining Hawaii development interests pursuant to that certain Purchase and Sale Agreement, dated as of July 31, 2026 (the “Purchase Agreement”), by and among David Johnston, as buyer (the “Buyer”), and each of Barnwell Hawaiian Properties, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“BHP”), and Ka‘upulehu Developments, a Hawaii general partnership for which BHP serves as authorized general partner (“KD”), each severally and not jointly, as sellers (together, the “Sellers”).
At closing, the Sellers sold to the Buyer: (i) BHP’s 34.45% limited partner interest in KKM Makai, LLLP, a Delaware limited liability limited partnership, and BHP’s 75% general partner interest in KD Kona 2013 LLLP, a Delaware limited liability limited partnership (together, the “Partner Interests”); (ii) KD’s rights in KD Acquisition II, LLLP and Increment 2 of Lot 4-A at Ka‘upulehu on the Island of Hawaii under a Retained Rights Agreement dated March 7, 2019 (the “KD Project Rights”); and (iii) KD’s rights under an Agreement to Terminate Project Rights dated November 17, 2025 between the Buyer and KD.