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LXU on NYSE

LSB INDUSTRIES, INC.

LSB INDUSTRIES, INC. is a delaware corporation.2 It is headquartered in Dover, United States.2 Its shares trade on NYSE under the symbol LXU.2

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Last updated Oct 21, 2026.

Overview

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  • TickerLXU on NYSE2
  • IndustryIndustrial Inorganic Chemicals2
  • HeadquartersDover, United States2
  • Incorporated inDE3
  • Business address3503 Nw 63Rd Street, Suite 500, Oklahoma City, Ok 73116-22383
  • Filer categoryAccelerated filer3
  • Legal formCorporation2
  • LEI5493001H215A0HG0MI712
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CAPITOL SERVICES, INC., 19901 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 8337812

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LSB is a Delaware corporation, formed in 1968, and headquartered in Oklahoma City, Oklahoma. LSB is committed to playing a leadership role in the production of low and no carbon products that build, feed and power the world. We seek to accomplish this goal through the manufacture and marketing of essential products for the agricultural and industrial markets, and in the future, low and no carbon products, all with an emphasis on a culture of excellence in customer experience. The Company manufactures ammonia and ammonia-related products in El Dorado, Arkansas (the “El Dorado Facility”), Cherokee, Alabama (the “Cherokee Facility”), and Pryor, Oklahoma (the “Pryor Facility”), and operates a facility on behalf of Covestro LLC (“Covestro”) in Baytown, Texas (the “Baytown Facility”). Our products are sold through distributors and directly to end customers, such as farmers, ranchers, and ferti…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

17.0%Gross margin5
9.3%Operating margin5
4.0%Net margin5
17.8%Revenue growth, 20255
4.7%Return on equity5
0.85×Debt to equity5
$18.1MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue83¢$510.9M
  • Selling, general and admin7¢$41.5M
  • Interest5¢$30.7M
  • Income tax1¢$7.9M
  • Profit4¢$24.6M

Out of $615.2M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending81¢$77.5M
  • Kept or used elsewhere19¢$18.1M

Out of $95.5M of cash from operations.5

Financial statements

Revenue67895$615.2M in 2025+69% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $365.1M$365.1M20192020: $351.3M$351.3M2020−4%2021: $556.2M$556.2M2021+58%2022: $901.7M$901.7M2022+62%2023: $593.7M$593.7M2023−34%2024: $522.4M$522.4M2024−12%2025: $615.2M$615.2M2025+18%
Gross profit67895$104.3M in 2025+1992% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $5.0M$5.0M20192020: $17.0M$17.0M2020+242%2021: $139.0M$139.0M2021+715%2022: $348.4M$348.4M2022+151%2023: $86.3M$86.3M2023−75%2024: $47.8M$47.8M2024−45%2025: $104.3M$104.3M2025+118%
Operating income67895$57.3M in 2025
-$100.0M0$100.0M$200.0M$300.0M$400.0M2019: -$39.1M-$39.1M20192020: -$15.5M-$15.5M2020−60%2021: $101.0M$101.0M20212022: $308.4M$308.4M2022+205%2023: $51.8M$51.8M2023−83%2024: -$5.5M-$5.5M20242025: $57.3M$57.3M2025
Net income67895$24.6M in 2025
-$100.0M0$100.0M$200.0M$300.0M2019: -$63.4M-$63.4M20192020: -$61.9M-$61.9M2020−2%2021: $43.5M$43.5M20212022: $230.3M$230.3M2022+429%2023: $27.9M$27.9M2023−88%2024: -$19.4M-$19.4M20242025: $24.6M$24.6M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Net sales$615.2M$522.4M$593.7M
Cost of sales$510.9M$474.6M$507.4M
Gross profit$104.3M$47.8M$86.3M
Selling, general and administrative expense$41.5M$41.8M$36.6M
Other expense (income), net$5.5M$11.5M-$2.1M
Operating income (loss)$57.3M-$5.5M$51.8M
Interest expense, net$30.7M$34.5M$41.1M
Loss (gain) on extinguishments of debt$52.0K-$3.0M-$8.6M
Non-operating income, net-$6.0M-$10.9M-$14.6M
Income (loss) before provision (benefit) for income taxes$32.5M-$26.0M$33.9M
Provision (benefit) for income taxes$7.9M-$6.7M$6.0M
Net income (loss)$24.6M-$19.4M$27.9M
Net income (loss)$0.34-$0.27$0.37
Net income (loss)$0.34-$0.27$0.37

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Corporate structure

LSB INDUSTRIES, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LSB INDUSTRIES, INC.

  • BlackRock Filed SCHEDULE 13G/A on LSB INDUSTRIES, INC., latest Apr 27, 2026 (5 filings since Feb 3, 2023)
  • Todd L. Boehly Filed SCHEDULE 13D/A on LSB INDUSTRIES, INC., latest Mar 30, 2026
  • CastleKnight Master Fund LP Filed SCHEDULE 13G/A on LSB INDUSTRIES, INC., latest Feb 17, 2026 (2 filings since Oct 10, 2025)
  • Robert Robotti Filed SCHEDULE 13D/A on LSB INDUSTRIES, INC., latest Dec 23, 2025 (2 filings since Aug 7, 2023)
  • SBT Investors LLC Filed SC 13D/A on LSB INDUSTRIES, INC., latest Nov 14, 2023 (3 filings since Aug 16, 2022)
  • LSB Funding LLC Filed SC 13D/A on LSB INDUSTRIES, INC., latest Nov 10, 2022 (4 filings since Oct 12, 2021)
  • Steven Golsen Filed SC 13D/A on LSB INDUSTRIES, INC., latest Feb 8, 2022
  • LSB INDUSTRIES, INC. Dover, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LSB INDUSTRIES, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.5B5 Dec 31, 2025$1.5B5 Dec 31, 2024+1.8%
Accumulated depreciation$691.1M5 Dec 31, 2025$650.0M5 Dec 31, 2024+6.3%
Property and equipment, net$833.5M5 Dec 31, 2025$847.6M5 Dec 31, 2024−1.7%
Operating-lease assets (leased space)$45.6M5 Dec 31, 2025$28.7M5 Dec 31, 2024+58.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$19.5M5 Dec 31, 2025$20.2M5 Dec 31, 2024−3.6%
Marketable securities, current$129.0M5 Dec 31, 2025$164.0M5 Dec 31, 2024−21.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$18.3M5 Dec 31, 2025$24.9M5 Dec 31, 2024−26.5%
Raw materials$1.6M5 Dec 31, 2025$2.5M5 Dec 31, 2024−36.3%
Finished goods$16.7M5 Dec 31, 2025$22.4M5 Dec 31, 2024−25.4%

Properties, in its own words

Our owned properties consist primarily of production facilities and former wholesale and retail distribution facilities. The following table presents our significant production facilities as of December 31, 2025:

Facility · El Dorado Facility · Cherokee Facility · Pryor Facility

The rest of Item 2

Location · El Dorado, AR · Cherokee, AL · Pryor, OK

Plant Area (acres) · 150 · 160 · 47

Site Area (acres) · 1,400 · 1,300 · 104

Site Status · Owned · Owned · Owned

Annual Ammonia Production Capacity (tons) · 493,000 (A) · 188,000 (B) · 246,000 (C)

The ammonia production capacity is based on 1,350 tons per day of production for the year. The El Dorado Facility did not perform a Turnaround during 2025.

The ammonia production capacity is based on 515 tons per day of production for the year. The Cherokee Facility did not perform a Turnaround during 2025.

The ammonia production capacity is based on 675 tons per day of production for the year. The Pryor Facility did not perform a Turnaround during 2025.

For 2025, our facilities produced approximately 826,000 tons of ammonia, an increase from the prior year as a result of no Turnaround activity in 2025 compared to completing two Turnarounds in 2024.

In addition, we currently lease the office space housing our headquarters in Oklahoma City, Oklahoma.

Most of our real property and equipment located at our chemical facilities are pledged as collateral to secure our long-term debt. All of the properties utilized by our businesses are suitable and adequate to meet the current needs of that business and relate to domestic operations.

Item 2 of the 10-K filed Feb 26, 2026.4

Leadership

Who has led LSB INDUSTRIES, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jack E. Golsen2006–2015
  2. Daniel D. Greenwell2016–2018
  3. Mark T. Behrman2019–now

Chair

  1. Jack E. Golsen2006–2017

President

  1. Barry H. Golsen2006–2015
  2. Daniel D. Greenwell2016–2018
  3. Mark T. Behrman2019–now

Chief financial officer

  1. Antonio M. Shelby2006–2015
  2. Mark T. Behrman2015–2018
  3. Cheryl Maguire2019–now

Chief operating officer

  1. Barry H. Golsen2006–2015
2010201520202025
Board members and other officers (48)

Former names

  • LSB INDUSTRIES INCFeb 23, 1994 to May 4, 20223

Timeline

  1. Sep 9, 20268-K Regulation FD disclosure64
  2. Jul 30, 20268-K Regulation FD disclosure65
  3. Jul 29, 20268-K Results of operations66
  4. Jun 1, 20268-K Other events67
  5. May 21, 20268-K Other events68
  6. May 21, 20268-K Shareholder vote69
  7. Apr 30, 20268-K Financial statements and exhibits70
  8. Apr 29, 20268-K Financial statements and exhibits71
  9. Apr 27, 20268-K Executive or director change72
  10. Apr 7, 20268-K Other events73
  11. Apr 3, 20268-K Executive or director change; Bylaws or fiscal year changed; Regulation FD disclosure74
  12. Mar 9, 20268-K Change of auditor75
  13. Jan 2, 2019New chief executive Mark T. Behrman becomes CEO13
  14. Jan 5, 2016New chief executive Daniel D. Greenwell becomes CEO14
  15. Aug 30, 2006New chief executive Jack E. Golsen becomes CEO15
  16. Jan 21, 1977Founded LSB INDUSTRIES, INC. is founded2

Calendar

Coming up

  1. Oct 28, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.10 a share, on Oct 29, 2025.76

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results66
  2. Feb 25, 2026Reported quarterly or annual results77
  3. Jul 29, 2025Reported quarterly or annual results78
  4. Apr 29, 2025Reported quarterly or annual results79
  5. Feb 26, 2025Reported quarterly or annual results80
  6. Oct 29, 2024Reported quarterly or annual results81
  7. Jul 31, 2024Reported quarterly or annual results82
  8. Apr 29, 2024Reported quarterly or annual results83

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

305 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 59 major events, 142 insider forms, 18 large holders, 65 other. The latest 20:

  1. Sep 17, 20264 EDGAR
  2. Sep 9, 20268-K EDGAR
  3. Aug 25, 202625-NSE EDGAR
  4. Aug 13, 20264 EDGAR
  5. Jul 30, 202610-Q EDGAR
  6. Jul 30, 20268-K EDGAR
  7. Jul 29, 20268-K EDGAR
  8. Jun 11, 20264 EDGAR
  9. Jun 10, 2026144 EDGAR
  10. Jun 9, 20264 EDGAR
  11. Jun 8, 2026144 EDGAR
  12. Jun 1, 20268-K EDGAR
  13. May 27, 20264 EDGAR
  14. May 27, 20264 EDGAR
  15. May 27, 20264 EDGAR
  16. May 27, 20264 EDGAR
  17. May 27, 20264 EDGAR
  18. May 21, 2026EFFECT EDGAR
  19. May 21, 20268-K EDGAR
  20. May 21, 20268-K EDGAR

The 305 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

32 open-market trades by officers, directors and large owners since October 2021: 3 buys and 29 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2026Ackerman Jonathan Z.DirectorBuy1,000$11.30$11.3KForm 4
Aug 12, 2026Ackerman Jonathan Z.DirectorBuy1,000$9.89$9.9KForm 4
Jun 10, 2026White Lynn FDirectorSale40,000$11.80$472.0KForm 4
Jun 8, 2026CARVER KRISTYSVP and TreasurerSale9,554$12.38$118.3KForm 4
Mar 26, 2026Boehly Todd L10% ownerSale4,889,159$14.85$72.6MForm 4
Mar 2, 2026BEHRMAN MARK TPresident and CEOSale250,000$11.75$2.9MForm 4
Feb 26, 2026CARVER KRISTYSVP and TreasurerSale2,091$10.99$23.0KForm 4
Feb 11, 2026GOLSEN BARRY HDirectorSale17,813$10.04$178.8KForm 4
Feb 10, 2026GOLSEN BARRY HDirectorSale25,501$10.04$256.0KForm 4
Feb 9, 2026GOLSEN BARRY HDirectorSale3,321$10.00$33.2KForm 4
Jan 23, 2026GOLSEN BARRY HDirectorSale15,926$10.03$159.7KForm 4
Jan 22, 2026GOLSEN BARRY HDirectorSale6,500$10.02$65.1KForm 4
Jan 21, 2026GOLSEN BARRY HDirectorSale96,554$10.06$971.3KForm 4
Jan 15, 2026GOLSEN BARRY HDirectorSale1,550$10.00$15.5KForm 4
Jan 15, 2026MAGUIRE CHERYLEVP and CFOSale1,550$10.00$15.5KForm 4
Jan 14, 2026GOLSEN BARRY HDirectorSale15,600$10.00$156.0KForm 4
Jan 14, 2026CARVER KRISTYSVP and TreasurerSale19,550$9.99$195.3KForm 4
Jan 14, 2026MAGUIRE CHERYLEVP and CFOSale7,551$10.00$75.5KForm 4
Jan 9, 2026GOLSEN BARRY HDirectorSale56,744$9.10$516.4KForm 4
Jan 8, 2026GOLSEN BARRY HDirectorSale118,953$9.19$1.1MForm 4

All 32 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Mark T. Behrman63$785.7K$5.3M91
2025Cheryl A. Maguire$449.0K$1.5M91
2025Michael J. Foster$445.7K$1.4M91
2025Damien J. Renwick$415.6K$1.3M91
2025Scott D. Bemis$349.1K$869.4K91
2024President and Chief$741.1K$4.3M91
2024Executive VicePresident$434.5K$1.2M91
2023Executive Officer$711.8K$4.5M91
2023and Chief Financial Officer$414.2K$1.2M91
2023General Counsel and Secretary$417.6K$1.2M91
2023and Chief Commercial Officer$365.8K$954.1K91

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,699,495$50.8M0.0%+635,339
American Century Companies Inc3,205,231$34.6M0.0%+909,230
First Eagle Investment Management, LLC2,837,800$30.7M0.0%+1,752,800
Vanguard Capital Management LLC2,510,165$27.1M0.0%+265,848
Dimensional Fund Advisors LP2,425,322$26.2M0.0%−6,614
Robotti Robert2,119,699$22.9M3.7%−400
Renaissance Technologies LLC1,748,406$18.9M0.0%−44,100
Systematic Financial Management LP1,671,625$18.1M0.4%−73,579
Arrowstreet Capital, Limited Partnership1,560,506$16.9M0.0%+791,498
Qube Research & Technologies Ltd1,533,049$16.6M0.0%+1,082,302
CastleKnight Management LP1,494,391$16.2M0.6%−18,925
Geode Capital Management, LLC1,468,036$15.9M0.0%+153,271
State Street Corp1,304,343$14.1M0.0%+173,034
Citadel Advisors LLC1,087,599$11.8M0.0%+270,036
Morgan Stanley1,043,524$11.3M0.0%+235,303
Two Sigma Investments, LP955,862$10.3M0.0%+420,567
Charles Schwab Investment Management Inc880,489$9.5M0.0%−49,362
Vanguard Portfolio Management LLC777,568$8.4M0.0%+323,784
Jpmorgan Chase & Co577,203$6.2M0.0%−6,869
Bridgeway Capital Management, LLC566,062$6.1M0.1%+16,204
Hillsdale Investment Management Inc.556,520$6.0M0.1%+260,140
Northern Trust Corp549,611$5.9M0.0%+121,119
Norges Bank544,900$5.9M0.0%New
Cerity Partners LLC512,983$5.5M0.0%−11,598
Marshall Wace, Llp428,916$4.6M0.0%+6,502

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How LSB INDUSTRIES, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLSB INDUSTRIES, INC.1
  • CIK0000060714
  • Employer ID (EIN)73-10152264
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2810 Industrial Inorganic Chemicals1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address3503 Nw 63Rd Street, Suite 500, Oklahoma City, OK 73116-22381
  • Phone40523545461
  • Shares outstanding71,997,504 as of Jul 24, 202611
  • Public float$417.0M as of Jun 30, 20254
  • AuditorErnst & Young LLP, Oklahoma City, OK, United States PCAOB ID 42; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceJan 27, 19941
  • Filings1,938 in all: 4 (834), 8-K (379), 10-Q (98), SC 13D/A (54), SC 13G/A (54), 5 (42), 3 (39), DEF 14A (35)1
    All 60 form types

    10-K (33), 144 (28), SC 13G (26), NT 10-Q (24), UPLOAD (23), 4/A (22), CORRESP (19), DEFA14A (19), CT ORDER (18), S-8 (16), SC 13D (15), 10-K/A (14), ARS (14), EFFECT (14), 424B3 (13), NT 10-K (10), 10-Q/A (9), 8-K/A (9), 8-A12B (8), POS AM (7), 424B7 (4), PRE 14A (4), REGDEX (4), S-1/A (4), S-3 (4), S-1 (3), S-3ASR (3), S-8 POS (3), SD (3), 8-A12B/A (2), FWP (2), S-3/A (2), SC TO-C (2), SCHEDULE 13D/A (2), SCHEDULE 13G/A (2), SEC STAFF LETTER (2), 25 (1), 25-NSE (1), 424B1 (1), 424B2 (1), CERT (1), CERTAMX (1), CERTNYS (1), D (1), DEFM14A (1), DFAN14A (1), PREM14A (1), PRER14A (1), S-4 (1), SC TO-I (1), SC TO-I/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Apr 10, 2026
    Latest 8-K (8-K) Sep 9, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, Par Value $.10LXUNew York Stock Exchange
Preferred Stock Purchase RightsNew York Stock Exchange

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks LSB INDUSTRIES, INC. names in Item 1A of its 10-K filed Feb 26, 2026: 32 risks under these headings, as written.4

  • Risks Relating to Our Business
  • Cost and the lack of availability of raw materials could materially affect our profitability.
  • We are reliant on a limited number of key facilities.
  • The age of our chemical manufacturing facilities increases the risk for unplanned downtime, which may be significant.
  • Our operations and the production and handling of our products involve significant risks and hazards.
  • Our transportation and distribution activities rely on third-party providers, which subject us to risks and uncertainties beyond our control that may adversely affect our operations.
  • We may not be successful in the development and implementation of our low carbon ammonia projects in a timely or economic manner, or at all.
  • There is intense competition in the markets we serve.
  • A major factor underlying the current high level of demand for our nitrogen-based fertilizer products is the production of ethanol. A decrease in ethanol production or an increase in ethanol imports could have a material adverse effect on our results of operations and financial condition.
  • Seasonality can adversely affect our business.
  • A substantial portion of our sales is dependent upon a limited number of customers.
  • A change in the volume of products that our customers purchase on a forward basis, or the percentage of our sales volume that is sold to our customers on a forward basis, could increase our exposure to fluctuations in our profit margins and materially adversely affect our business, financial condition, results of operations and cash flows.
The other 21 risks
  • Cybersecurity risks could adversely affect our business.
  • We may engage in certain strategic transactions which may adversely affect our financial condition.
  • Risks Relating to Our Industry and Markets
  • Our business and customers are sensitive to adverse economic cycles and a prolonged deterioration of global market and economic conditions could have a material adverse effect on our business, financial condition, results of operations and cash flow.
  • An increase of imported nitrogen based products could adversely affect our business.
  • Adverse weather conditions and climate change could adversely affect our business.
  • Geopolitical conditions, including political turmoil and volatility, regional conflicts, terrorism and war have negatively affected and could negatively affect United States and foreign companies, the financial markets, the industries where we operate, our operations and our profitability.
  • Risks Relating to Our Liquidity and Debt
  • We may not be able to generate sufficient cash to service our debt and may be required to take other actions to satisfy the obligations under our debt agreements, which may not be successful.
  • Our substantial indebtedness level could limit our financial and operating activities, and adversely affect our ability to incur additional debt to fund future needs.
  • Our debt agreements and the Exchange Agreement contain covenants and impose restrictions on our business operations, and any breach of these covenants or restrictions could result in an event of default under one or more of our debt agreements or contracts at different entities within our capital structure, including as a result of cross acceleration or default provisions.
  • Despite our current levels of debt, we may still incur more debt ranking senior or equal in right of payment with our existing obligations, including secured debt, which would increase the risks described herein.
  • Risks Relating to Legal, Regulatory and Compliance Matters
  • Current and future legislative or regulatory requirements affecting our business may result in increased costs and decreased revenues, cash flows and liquidity or could have other negative effects on our business.
  • We may not have adequate insurance.
  • We may be required to modify or expand our operating, sales and reporting procedures and to install additional equipment in order to comply with current and possible future government regulations.
  • Proposed and existing governmental laws and regulations relating to greenhouse gas and other air emissions may subject certain of our operations and customers to significant new costs and restrictions on their operations and may reduce sales of our products.
  • Laws, regulations or other issues related to climate change could have a material adverse effect on us.
  • Risks Relating to Human Capital
  • Loss of key personnel and other employees, including those with engineering and technical expertise, could negatively affect our business.
  • We are subject to collective bargaining agreements with certain employees.
  • Risks Relating to Stockholders
  • Todd Boehly (“Boehly”), through an affiliate, has a significant influence over us, which could limit other stockholders’ ability to influence the outcome of key transactions, including a change of control.
  • There can be no assurance that we will repurchase shares of common stock or that we will repurchase shares at favorable prices.
  • We are subject to a variety of factors that could discourage other parties from attempting to acquire us.
  • Future issuances or potential issuances of our common stock or preferred stock could adversely affect the price of our common stock and our ability to raise funds in new stock offerings and could dilute the percentage ownership or voting power of our common stockholders.

Legal proceedings

Global Industrial Matter

In 2015, the Company received written notice from Global Industrial, Inc. (“Global”) of Global’s intention to assert mechanic liens for labor, service, or materials furnished under certain subcontract agreements for the construction of the ammonia plant (the “Ammonia Plant”) at our El Dorado Facility. Global was a subcontractor of Leidos Constructors, LLC (n/k/a Benham Constructors, LLC, and f/k/a SAIC Constructors, LLC) (“Benham”), the general contractor for the construction of the Ammonia Plant. Leidos Inc. (f/k/a Science Applications International Corporation) (“Leidos Inc.”) and Leidos Engineering, LLC (“Leidos Engineering” and, collectively with Benham and Leidos Inc., the “Leidos Entities”) Benham terminated the services of Global with respect to their work performed at our El Dorado Facility. We are pursuing the recovery of any damage or loss caused by Global’s work performed at our El Dorado Facility through their contract with the Leidos Entities. In March 2016, we were served a summons in a case styled Global Industrial, Inc. d/b/a Global Turnaround vs. Leidos Constructors, LLC et al., in the Circuit Court of Union County, Arkansas (the “Union County Trial Court”), wherein Global sought damages under breach of contract and other claims (the “Action”). At the time of the summons, our accounts payable included invoices totaling approximately $3.5 million related to work performed by Global that is the subject of the claims asserted by Global, but such invoices were not approved by Benham for payment. We requested indemnification from the Leidos Entities under the terms of our contracts, which they denied. As a result, we are seeking reimbursement of legal expenses from the Leidos Entities under our contracts. We are also seeking damages from the Leidos Entities for their wrongdoing during the expansion, including breach of contract, fraud, professional negligence and gross negligence.

The opening of Item 3, Legal Proceedings.4

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