RenX JV agrees $2.6M sale of Georgia property
Rhea-AI Filing Summary
RenX Enterprises Corp. (RENX), through its 50%-owned joint venture Norman Berry II Owner, LLC, has agreed to sell the approximately 7.7 acre Norman Berry property in East Point, Georgia to Arbour Valley Development, LLC for a $2.6 million purchase price, effective August 17, 2026. The buyer must make refundable earnest money deposits of $60,000 within ten business days of signing and, if it accepts a tax credit award, an additional $60,000 after the Application Period begins.
The sale is conditioned on the purchaser applying for and receiving Georgia state tax credits and/or HOME Investment Partnership Program funds, completing due diligence, and securing financing during a defined Financing Period, with rights to extend closing for additional non-refundable $20,000 deposits per extension. At closing, about $800,000 of the $2.6 million price is expected to repay two notes RenX holds against the property, with approximately $1.8 million remaining to be split by the joint venture members, giving RenX an expected share of about $900,000 to support core operations at its Myakka City, Florida facility. The company cautions there is no assurance the transaction will close.
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8-K Event Classification
Key Figures
Key Terms
earnest money deposit financial
HOME Investment Partnership Program financial
Application Period regulatory
Financing Period financial
Microtec milling system technical
FAQ
What did RENX announce regarding the Norman Berry property sale?
How much cash does RENX expect to receive from the Norman Berry sale?
What conditions must be met before the RENX Norman Berry sale can close?
How are earnest money deposits structured in the RENX Norman Berry sale agreement?
How does RENX plan to use proceeds from the Norman Berry transaction?
What is the strategic rationale for RENX’s Norman Berry property sale?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On August 17, 2026 (the “Effective Date”), Norman Berry II Owner, LLC (“Norman Berry”), a limited liability company that is 50% owned by RenX Enterprises Corp. (the “Company”), entered into a Purchase and Sale Agreement (the “Sale Agreement”), with Arbour Valley Development, LLC (the “Purchaser”), pursuant to which, subject to the satisfaction of various closing conditions, including the Purchaser’s receipt of an allocation of tax credits from the Georgia State Agency (the “State Agency”) in the amounts requested or, as applicable, the Purchaser’s election not to file an application (the “Application”) with the State Agency for an allocation of tax credits and/or HOME Investment Partnership Program funds under the 2026 application round, Norman Berry agreed to sell and convey an approximately 7.7 acre parcel of land (the “Property”) located at East Point, Fulton County, Georgia to the Purchaser for an aggregate purchase price of $2.6 million (the “Purchase Price”).
Pursuant to the Sale Agreement: (i) within ten business days from the Effective Date, the Purchaser shall deliver $60,000 to an escrow agent as an earnest money deposit and (ii) provided that the Purchaser has accepted an award of tax credits from the State Agency, the Purchaser shall, within ten business days after the expiration of the Application Period (as such term is defined below), deliver an additional $60,000 to the escrow agent as an additional earnest money deposit. The foregoing earnest money deposits will remain fully refundable to the Purchaser until the Purchaser submits its Application to the State Agency (the “Pre-Application Period”) for an allocation of tax credits and/or HOME Investment Partnership Program funds under the 2026 application round for financing the development of the Property (expected on September 25, 2026). For purposes of the Purchase Agreement, the “Application Period” is the period from the expiration of the Pre-Application Period through the award date (expected in March 2027).
To the extent not refunded, the earnest money deposits will be credited against the Purchase Price at closing of the transaction. In the event that (i) the Purchaser elects not submit the Application to the State Agency, which the Purchaser shall notify Norman Berry of by September 25, 2026 or such later date published by the State Agency for submission of an Application, or (ii) the Purchaser does submit the Application and does not obtain an allocation of tax credits in the amounts requested, the Sale Agreement will terminate and be of no further force and effect, and the Purchaser shall receive a full refund of the earnest deposit.
Pursuant to the Sale Agreement, the Purchaser also has 180 days following the expiration of the Application Period to secure financing believed by it to be sufficient to fund the Purchase Price and the future development and operation of the Property (the “Financing Period”). In the event that the Purchaser, determines, in its sole discretion, that it is unable to secure sufficient funding during the Financing Period, the Purchaser may terminate the Sale Agreement and Norman Berry would retain the earnest money deposit.
Closing of the transaction is subject to the satisfaction of conditions customary for transactions of this type, including the Purchaser’s due diligence, the Purchaser securing certain state program allocations for its intended development of the Property, and the Purchaser obtaining sufficient funding. Subject to the satisfaction of such conditions, or a waiver thereof, the closing of the transaction shall be held on or before the date that is 120 days following the expiration of the Financing Period; provided, however, that the Purchaser shall have the right to extend the closing date up to two times by extension periods of 60 days by providing notice to Norman Berry and by depositing an additional, non-fundable, sum of $20,000 with the escrow agent for each such extension, which shall be credit toward the Purchase Price at closing of the transaction.
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At closing of the transaction, of the $2.6 million Purchase Price, it is expected that Norman Berry will first apply approximately $800,000 of the proceeds, plus accrued interest, to repay two notes the Company holds against the Property, with the remaining approximately $1.8 million to be split between the members of Norman Berry, of which the Company’s 50% share is expected to be approximately $900,000. No assurances can be provided that the transaction will close or, even if it does, that Purchase Price funded at such closing will be allocated as set forth in this Current Report.
The foregoing description of the Sale Agreement is qualified in its entirety by reference to the full text of the Sale Agreement, a copy of which is attached to this Current Report on Form 8-K (this “Current Report”) as Exhibit 10.1 and is incorporated herein by reference. The representations, warranties and covenants contained in the Sale Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to the Sale Agreement and may be subject to limitations agreed upon by the contracting parties.
Item 7.01 Regulation FD Disclosure.
On August 21, 2026, the Company issued a press release (the “Press Release”) announcing the execution of the Sale Agreement. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated by reference herein.
The information in this Item 7.01 and Exhibit 99.1 attached hereto are furnished and shall not be deemed to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are filed or furnished, as applicable, with this Report:
(d) Exhibits
| Exhibit Number |
Exhibit Description | |
| 10.1 | Purchase and Sale Agreement, dated August 17, 2026, by and between Norman Berry II Owner, LLC and Arbour Valley Development, LLC. | |
| 99.1 | Press Release, dated August 21, 2026 | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
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SIGNATURES
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.
| Dated: August 21, 2026 | RENX ENTERPISES CORP. | |
| By: | /s/ Nicolai Brune | |
| Name: | Nicolai Brune | |
| Title: | Chief Financial Officer | |
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Exhibit 99.1
RenX Enterprises Announces $2.6 Million Sale Agreement for Norman Berry Property
Proceeds expected to provide non-dilutive funding for core operations at Myakka City and to reduce existing real estate debt
MIAMI, FL, August 21st, 2026 — RenX Enterprises Corp. (NASDAQ: RENX) (“RenX” or the “Company”) today announced that a joint venture in which its subsidiary holds a 50% interest has entered into a purchase and sale agreement to sell the Norman Berry property, an approximately 7.7 acre parcel in East Point, Fulton County, Georgia, for a purchase price of $2.6 million. The purchaser is a Florida-based real estate development company. The agreement is effective as of August 17, 2026.
The sale advances a strategy the Company has described consistently: monetize non-core legacy real estate and redeploy that capital into its vertically integrated processing platform at Myakka City, Florida, where the Company is preparing to commission its Microtec milling system in the second half of 2026. At closing, of the $2.6 million purchase price, it is expected that the joint venture will first apply approximately $800,000 to repay two notes RenX holds against the property, plus accrued interest, with the remaining approximately $1.8 million split under the joint venture, of which the Company’s 50% share is approximately $900,000. The Company expects to utilize this capital to support its core operations at Myakka City.
Closing is subject to conditions customary for transactions of this type, including the purchaser’s due diligence, the purchaser securing certain state program allocations for its intended development of the site, and the purchaser obtaining financing. The purchaser’s program application is expected to be submitted in the second half of 2026, with allocation determinations expected in the first half of 2027. Closing would follow the satisfaction of these conditions within the periods established by the agreement, which include a post-award financing period and purchaser extension rights. The purchaser has agreed to make earnest money deposits under the agreement. There can be no assurance that the conditions to closing will be satisfied or that the transaction will close on the terms described or at all. Full details of the transaction will be set forth in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
“This transaction shows our legacy asset strategy delivering real results. Monetizing a non-core parcel to reduce our debt and invest in the buildout at Myakka City strengthens our balance sheet, while allowing us to focus on our core operations,” said David Villarreal, Chief Executive Officer of RenX Enterprises Corp.
About RenX Enterprises Corp.
RenX Enterprises Corp. is a biomass recycling, logistics, and real estate company operating a vertically integrated environmental services platform focused on the engineered soils, organic recycling, and bulk materials logistics industries. The Company’s platform is designed to be differentiated by its use of advanced milling and material-processing technology, including a planned deployment of a licensed Microtec system, to precisely size, refine, and condition organic inputs into consistent, high-performance soil substrates. This technology-enabled approach will allow RenX to move beyond traditional waste-to-value operations and manufacture engineered growing media with repeatable quality and defined specifications.
RenX’s core operations are anchored by a permitted 80+ acre organics processing facility in Myakka City, Florida. At this facility, the Company integrates organics processing, advanced milling, blending, and in-house logistics to support the localized production of proprietary soil substrates and potting media. The Company believes that by optimizing products for regional feedstocks and customer requirements, it can shorten supply chains, enhance quality control, and improve unit economics while serving higher-value end markets. The Company also owns a portfolio of legacy real estate assets, which it intends to monetize to fund its core technology-driven environmental processing platform.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact may be deemed forward-looking, including statements regarding the expected closing of the sale of the Norman Berry property and the timing thereof; the Company’s strategy of monetizing legacy real estate assets to fund its core processing platform; commissioning the Microtec organic waste processing unit for expected operation in the second half of 2026; the Company receiving repayment of two notes it holds against the property; the amount of proceeds the Company expects to receive from the sale of the Norman Berry property; using the proceeds from the sale to reduce the Company’s existing real estate debt and to support the Company’s core operations at Myakka City; the satisfaction of the conditions to closing, including the purchaser’s due diligence, state program allocations, and purchaser obtaining financing; submitting the purchaser’s program application in the second half of 2026, with allocation determinations expected in the first half of 2027; moving beyond traditional waste-to-value operations to manufacture engineered growing media with repeatable quality and defined specifications; shortening supply chains, enhancing quality control, and improving unit economics while serving higher-value end markets by optimizing products for regional feedstocks and customer requirements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include the risk that the conditions to closing are not satisfied and that the transaction does not close on the terms described or at all; the timing and outcome of the purchaser’s state allocation application and financing efforts; the purchaser’s termination and extension rights under the agreement; the Company’s ability to advance monetization initiatives across its real estate and legacy asset portfolio; the Company’s ability to deploy the Microtec mill and commence commercial production as planned; the Company’s reliance on third-party technologies and partners; the availability and cost of feedstock and other inputs; market acceptance of engineered growing media products; the Company’s ability to maintain adequate liquidity and working capital; general economic and market conditions; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and its subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
For Media and IR inquiries please contact:
info@renxent.com