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Sycamore Networks Inc (SCMR.PK)

SCMR.PK on OTC Markets Group

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Sycamore Networks Inc enters in to purchase and sale agreement with Princeton Tyngsborough Commons LLC - Form 8-K
Thursday, 30 Jul 2015 04:00pm EDT 

Sycamore Networks Inc:Says that as previously reported, on Oct. 10, 2014, entered into a Purchase and Sale Agreement, as amended on each of Feb. 24, 2015, March 27, 2015 and March 30, 2015.Says the agreement relating to the sale of about 102 acres of undeveloped land located in Tyngsborough, Massachusetts to Princeton Tyngsborough Commons LLC for a total purchase price of $2.5 million.On July 30, 2015, the company and Buyer entered into a Fourth Amendment to Purchase and Sale Agreement providing for, among other things, an extension of the closing date to Sept. 15, 2015.The terms of the Purchase Agreement, as amended, provide that in the event that Buyer defaults on its obligation to complete the transaction, the company will retain the entire amount of the deposits, which totalled $350,000 as of Aug. 4, 2015.  Full Article