CALLAN JMB INC. (CJMB) Form 8-K — Aug 24, 2026
Callan JMB Inc. (Nasdaq: CJMB) disclosed that on August 19, 2026 it entered into an Asset Purchase and Sale Agreement under which its wholly owned subsidiary Callan Power LLC will acquire Reger Oil, Inc.'s Williston Basin oil and gas assets — leases, mineral interests, contracts, permits, surface rights and equipment — for 1,000 shares of new Series A Perpetual Convertible Preferred Stock with an aggregate stated value of $10,000,000 plus $2,000,000 in cash payable by December 31, 2026.
Key figures
- Deal Value Usd
- $12,000,000 total ($10,000,000 preferred stock stated value + $2,000,000 cash)
- Outside Date
- October 31, 2026
- Expected Closing
- on or before September 22, 2026
- Indemnification Cap
- 10% of the Purchase Price
- Cash Payment Deadline
- on or before December 31, 2026
- Ownership Limitation
- 9.9% of common shares outstanding post-conversion
- Preferred Shares Issued
- 1000
- Indemnification De Minimis
- 25000
- Preferred Conversion Price
- 2.1
- Indemnification Deductible
- 200000
- Title Defect Notice Threshold
- 50000
- Preferred Stated Value Per Share
- 10000
Price after filing
Close on the filing date to close N calendar days later (from $2.27). Historical, not a forecast.
AI analysis
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