[sheet: Closing Checklist]
Item No. | Category | Document / Deliverable Description | Responsible Party | Status | Due Date | Comments / Notes
CATEGORY 1: TRANSACTION DOCUMENTS
1.1 | Transaction Documents | First Supplemental Indenture, dated as of December 10, 2025, among Nexford Industrial Holdings Inc. (Issuer), Nexford Parent Corp. and the Subsidiary Guarantors, and Ridgeline Trust Company, N.A. (Trustee and Collateral Agent), supplementing the Indenture dated March 15, 2023, providing for the issuance of $150,000,000 aggregate principal amount of additional 8.750% Senior Secured Notes due 2030 | Calderwood & Harkness LLP / Ridgeline Trust Company, N.A. | Final | December 10, 2025 | Execution version; governed by New York law; add-on notes constitute Additional Notes under existing Indenture
1.2 | Transaction Documents | Purchase Agreement, dated December 5, 2025, among Nexford Industrial Holdings Inc. (Issuer), the Guarantors, Broadleaf Securities LLC (as representative of the Initial Purchasers) and Fieldstone Capital Markets, Inc. (Co-Manager), for the purchase of $150,000,000 aggregate principal amount of additional 8.750% Senior Secured Notes due 2030 at issue price of 101.500% of par, less initial purchaser discount of 1.750% ($2,625,000) | Calderwood & Harkness LLP / Whitmore & Stein LLP | Executed | December 5, 2025 | Executed at pricing; settlement December 10, 2025; Rule 144A / Regulation S private placement
1.3 | Transaction Documents | Joinder to Registration Rights Agreement — Joinder by the Issuer with respect to the add-on notes, obligating exchange offer registration statement effectiveness by December 10, 2026 (365 days from closing) | Calderwood & Harkness LLP | Final | December 10, 2025 | Exchange offer deadline: December 10, 2026
1.4 | Transaction Documents | Offering Memorandum Supplement, dated December 3, 2025, supplementing original offering memorandum dated March 12, 2023 | Calderwood & Harkness LLP / Broadleaf Securities LLC | Final | December 3, 2025 | Distributed to QIBs under Rule 144A and non-U.S. persons under Reg S
CATEGORY 2: CERTIFICATES
2.1 | Certificates | Officers' Certificate of Nexford Industrial Holdings Inc., executed by Sandra Okafor (Chief Financial Officer) and Raymond Chiu (General Counsel), certifying (i) representations and warranties true and correct, (ii) no Event of Default or Default under Indenture, (iii) compliance with incurrence covenants (FCCR 2.00x test) on pro forma basis after add-on issuance and Kessler acquisition, (iv) all conditions precedent satisfied | Nexford Industrial Holdings Inc. | Final | December 10, 2025 | Delivered pursuant to Purchase Agreement
2.2 | Certificates | Secretary's Certificate of Nexford Industrial Holdings Inc., executed by Raymond Chiu (Secretary), attaching: (A) Board resolutions adopted November 8, 2025 authorizing add-on notes offering and Kessler acquisition; (B) Certificate of Incorporation; (C) Bylaws; (D) Delaware Certificate of Good Standing | Nexford Industrial Holdings Inc. | Final | December 10, 2025 | Board approval date: November 8, 2025
2.3 | Certificates | Good Standing Certificate — Nexford Industrial Holdings Inc. — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | Dated within 5 business days of closing; EIN: 84-3291057
2.4 | Certificates | Good Standing Certificate — Nexford Parent Corp. — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | EIN: 84-3290814
2.5 | Certificates | Good Standing Certificate — Nexford Thermal Systems, LLC — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | DE LLC
2.6 | Certificates | Good Standing Certificate — Nexford Fastener Group, Inc. — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | DE Corp
2.7 | Certificates | Good Standing Certificate — Nexford Aerospace Components, Inc. — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | DE Corp
2.8 | Certificates | Good Standing Certificate — Prairie Metal Works, LLC — Illinois Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | IL LLC
2.9 | Certificates | Good Standing Certificate — Great Lakes Precision, Inc. — Michigan Department of Licensing and Regulatory Affairs | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | MI Corp
2.10 | Certificates | Good Standing Certificate — Nexford Defense Solutions, LLC — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | DE LLC
2.11 | Certificates | Good Standing Certificate — Nexford Energy Products, Inc. — Texas Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | TX Corp
2.12 | Certificates | Good Standing Certificate — Veltrano Tool & Die, LLC — Ohio Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | OH LLC
2.13 | Certificates | Good Standing Certificate — Nexford International Holdings, Inc. — Delaware Secretary of State | Nexford Industrial Holdings Inc. | Pending | December 10, 2025 | DE Corp
2.14 | Certificates | Compliance Certificate — Incurrence Test Calculations (Pro Forma). Verifies FCCR ≥ 2.00x on pro forma basis. PF Adj. EBITDA: $270,000,000 ($247M Nexford + $23M Kessler). PF total debt: $980,000,000. PF net debt: ~$918,750,000. PF total net leverage: ~3.4x. PF secured net leverage: ~2.25x. Add-on notes incurred under ratio basket. | Calderwood & Harkness LLP (Eric Johannsen / Natasha Forbes) | Final | December 10, 2025 | Internal Calderwood & Harkness working spreadsheet; attached to Officers' Certificate
CATEGORY 3: LEGAL OPINIONS
3.1 | Legal Opinions | Legal Opinion of Calderwood & Harkness LLP (Issuer's Counsel) — Addressed to Initial Purchasers and Trustee/Collateral Agent. Covers: due organization and good standing; due authorization, execution, delivery; valid and binding obligations; valid security interest in Notes Priority Collateral; no Securities Act registration required under Rule 144A / Reg S; Issuer not an investment company; no governmental consents required. | Calderwood & Harkness LLP (Jennifer Kwon) | Draft | December 10, 2025 | Delivered at closing pursuant to Purchase Agreement
3.2 | Legal Opinions | 10b-5 Negative Assurance Letter of Calderwood & Harkness LLP — Addressed to Broadleaf Securities LLC and Fieldstone Capital Markets, Inc. Provides negative assurance under Rule 10b-5 regarding Offering Memorandum Supplement dated December 3, 2025. | Calderwood & Harkness LLP (Jennifer Kwon) | Draft | December 10, 2025 | Based on participation in preparation of OMS, bring-down DD call on December 4, 2025
3.3 | Legal Opinions | Legal Opinion of Whitmore & Stein LLP (Initial Purchasers' Counsel) — Addressed to Broadleaf Securities LLC and Fieldstone Capital Markets, Inc. | Whitmore & Stein LLP (Robert Houghton) | Pending | December 10, 2025 | Scope to be confirmed; fees (~$300,000) borne by Issuer per Purchase Agreement
CATEGORY 4: TRUSTEE / COLLATERAL AGENT ITEMS
4.1 | Trustee / Collateral Agent | Authentication Order — Direction to Ridgeline Trust Company, N.A. to authenticate $150,000,000 aggregate principal amount of additional 8.750% Senior Secured Notes due 2030 | Calderwood & Harkness LLP / Nexford Industrial Holdings Inc. | Draft | December 10, 2025 | Signed by authorized officers of Nexford
4.2 | Trustee / Collateral Agent | Trustee's Certificate of Authentication — Confirmation by Ridgeline Trust Company, N.A. (Linda Ferris, Trust Officer) of authentication and delivery of add-on notes | Ridgeline Trust Company, N.A. | Pending | December 10, 2025 | 60 South Sixth Street, Suite 2100, Minneapolis, MN 55402
4.3 | Trustee / Collateral Agent | Trustee Acceptance / Eligibility — Ridgeline Trust Company, N.A. confirmation of acceptance of trusteeship and collateral agency for add-on notes under First Supplemental Indenture; confirmation of TIA eligibility | Ridgeline Trust Company, N.A. | Pending | December 10, 2025 | Acceptance fee: $17,500; annual admin fee: $12,500
4.4 | Trustee / Collateral Agent | Collateral filings — Supplement to Pledge Agreement and Security Agreement to reflect additional $150,000,000 notes secured by Notes Priority Collateral (equipment, real property, IP, subsidiary equity interests). Subject to Intercreditor Agreement dated March 15, 2023. | Calderwood & Harkness LLP | Draft | December 10, 2025 | ABL has first priority on ABL Priority Collateral; Notes have first priority on Notes Priority Collateral
4.5 | Trustee / Collateral Agent | Intercreditor Agreement acknowledgment — Acknowledgment by Lakefront National Bank (ABL Agent) of issuance of additional notes under existing Intercreditor Agreement dated March 15, 2023 | Calderwood & Harkness LLP / Lakefront National Bank | Pending | December 10, 2025 | Lakefront National Bank, 231 South LaSalle Street, Chicago, IL 60604
CATEGORY 5: RATING AGENCY CONFIRMATIONS
5.1 | Rating Agency Confirmations | Rating Confirmation Letter — Palladian Credit Research, Inc. — Confirmation of B1 instrument rating on 8.750% Senior Secured Notes due 2030 (including $150,000,000 add-on). Corporate family rating: B2. | Palladian Credit Research, Inc. | Pending | December 5, 2025 | 7 World Trade Center, 40th Floor, New York, NY 10007; combined rating agency fees ~$175,000
5.2 | Rating Agency Confirmations | Rating Confirmation Letter — Veridian Ratings Group, LLC — Confirmation of B+ instrument rating on 8.750% Senior Secured Notes due 2030 (including $150,000,000 add-on). Corporate family rating: B. | Veridian Ratings Group, LLC | Pending | December 5, 2025 | 55 Water Street, 22nd Floor, New York, NY 10041
CATEGORY 6: UCC FINANCING STATEMENTS AND IP SECURITY AGREEMENT SUPPLEMENTS
6.1 | UCC / IP Filings | UCC-3 Amendment / Continuation Statements — Filed against Nexford Industrial Holdings Inc. and each Guarantor in applicable jurisdictions (Delaware, Illinois, Michigan, Ohio, Texas) to reflect add-on notes secured by Notes Priority Collateral | Calderwood & Harkness LLP | Pending | December 10, 2025 | Lien searches to be obtained prior to closing
6.2 | UCC / IP Filings | Supplement to intellectual Property Security Agreement — Amendment to cover any additional IP of Nexford and Guarantors pledged as Notes Priority Collateral | Calderwood & Harkness LLP | Draft | December 10, 2025 | USPTO / USCO filings as applicable
6.3 | UCC / IP Filings | UCC Lien Search Results — Certified search results for Nexford Industrial Holdings Inc. (DE), Nexford Parent Corp. (DE), and each Subsidiary Guarantor in their respective jurisdictions of organization | Calderwood & Harkness LLP (outside search firm) | Pending | December 9, 2025 | To be reviewed by Natasha Forbes prior to closing
CATEGORY 7: FUNDS FLOW MEMORANDUM
7.1 | Funds Flow | Funds Flow Memorandum — Detailing disbursement of gross proceeds ($152,250,000 at 101.500% issue price on $150,000,000 par): (i) $2,625,000 initial purchaser discount to Broadleaf Securities LLC; (ii) ~$138,000,000 to fund Kessler Precision Components, Inc. acquisition; (iii) ~$5,000,000 estimated transaction fees and expenses; (iv) ~$6,625,000 remainder to Nexford balance sheet for general corporate purposes. Wire instructions for all parties attached. | Calderwood & Harkness LLP / Nexford Industrial Holdings Inc. (David Altschuler, Treasurer) | Draft | December 10, 2025 | Kessler acquisition proceeds may be held in escrow pending Kessler closing on December 12, 2025
CATEGORY 8: DTC LETTERS AND CUSIP CONFIRMATIONS
8.1 | DTC / CUSIP | DTC Eligibility Letter — Confirmation that add-on notes are eligible for book-entry transfer through DTC (and through Thackeray Partners LLC and Ashgrove Enterprises for Reg S notes) | Continental Transfer Services, Inc. / Ridgeline Trust Company, N.A. | Pending | December 10, 2025 | Continental Transfer Services, Inc., 17 Ashbury Asset Advisors, 30th Floor, New York, NY 10004
8.2 | DTC / CUSIP | CUSIP Confirmation — Temporary CUSIP assignments: 144A add-on: 65438T AB3; Reg S add-on: U65438 AB5. Post-fungibility CUSIPs: 65438T AA5 / U65438 AA7. | Broadleaf Securities LLC / Continental Transfer Services, Inc. | Pending | December 10, 2025 | Post-fungibility after 40-day Reg S distribution compliance period ending January 19, 2026
8.3 | DTC / CUSIP | DTC Blanket Letter of Representations — Confirmation or update from Nexford Industrial Holdings Inc. to DTC | Nexford Industrial Holdings Inc. / Continental Transfer Services, Inc. | Pending | December 10, 2025 | May use existing DTC letter from March 2023 original issuance if still in effect
8.4 | DTC / CUSIP | Global Notes — Preparation and delivery of (i) 144A Global Note and (ii) Regulation S Global Note, in the aggregate amount of $150,000,000 | Calderwood & Harkness LLP / Ridgeline Trust Company, N.A. / Continental Transfer Services, Inc. | Draft | December 10, 2025 | Authenticated by Ridgeline Trust Company, N.A.; deposited with DTC
[sheet: Parties & Contacts]
Role | Entity | Key Contact(s) | Title | Address
Issuer | Nexford Industrial Holdings Inc. | Marcus DeLeon; Sandra Okafor; Raymond Chiu; David Altschuler | CEO; CFO; General Counsel & Secretary; Treasurer | 2400 Commerce Parkway, Suite 800, Schaumburg, IL 60173
Parent Guarantor | Nexford Parent Corp. | Raymond Chiu | Secretary | c/o Cascade Systems, 160 Greentree Drive, Suite 101, Dover, DE 19904
Private Equity Sponsor | Granite Peak Capital Partners, LP (through Granite Peak Capital Fund V, LP) | Paul Henriksen (MD, Board Designee); Catherine Briggs (VP) | Managing Director; Vice President | 300 South Wacker Drive, Suite 3200, Chicago, IL 60606
Issuer's Counsel | Calderwood & Harkness LLP | Jennifer Kwon (Responsible Partner); Theodore Langston (Billing Partner); Natasha Forbes (Lead Associate); Eric Johannsen (Working Associate) | Partners / Associates, Capital Markets | One Liberty Plaza, 48th Floor, New York, NY 10006
Lead Initial Purchaser / Bookrunner | Broadleaf Securities LLC | Angela Moretti (MD); James Winterbottom (Director) | Managing Director; Director, High Yield Capital Markets | 383 Madison Avenue, 12th Floor, New York, NY 10179
Co-Manager | Fieldstone Capital Markets, Inc. | Kevin Tanaka (VP) | Vice President | 120 South LaSalle Street, Suite 1600, Chicago, IL 60603
Initial Purchasers' Counsel | Whitmore & Stein LLP | Robert Houghton (Partner); Diana Castillo (Associate) | Partner; Associate | 599 Lexington Avenue, 35th Floor, New York, NY 10022
Sponsor Counsel | Archer, Dodd & Feinberg LLP | Philip Magnusson (Partner) | Partner | 200 South Michigan Avenue, Suite 4100, Chicago, IL 60604
Indenture Trustee / Collateral Agent | Ridgeline Trust Company, N.A. | Linda Ferris (Trust Officer) | Trust Officer | 60 South Sixth Street, Suite 2100, Minneapolis, MN 55402
ABL Agent | Lakefront National Bank | 231 South LaSalle Street, Chicago, IL 60604
Transfer Agent / Registrar | Continental Transfer Services, Inc. | 17 Ashbury Asset Advisors, 30th Floor, New York, NY 10004
Rating Agency #1 | Palladian Credit Research, Inc. | 7 World Trade Center, 40th Floor, New York, NY 10007
Rating Agency #2 | Veridian Ratings Group, LLC | 55 Water Street, 22nd Floor, New York, NY 10041
Auditors | Meridian Ledger LLP | 155 North Wacker Drive, Suite 2500, Chicago, IL 60606
Kessler Seller's Counsel | Hargrove & Tilson LLP | Harold Griswold (Partner) | Partner | 130 West Second Street, Suite 700, Dayton, OH 45402
Acquisition Target | Kessler Precision Components, Inc. | Thomas Kessler (President & Founder) | President & Founder | 1455 Innovation Boulevard, Dayton, OH 45402
R&W Insurance Carrier | Atherton Specialty Insurance Co.
Kessler Sellers | The Kessler Family Trust (72%); Northland Growth Equity Fund III, LP (28%)
[sheet: Key Dates & Timeline]
Date | Event / Milestone | Status
March 15, 2023 | Original Indenture date; issuance of $475,000,000 8.750% Senior Secured Notes due 2030 | Completed
November 8, 2025 | Nexford Board of Directors approves exploration of add-on tap and Kessler acquisition | Completed
November 15, 2025 | Kessler acquisition purchase agreement executed (purchase price: $138,000,000; 6.0x LTM EBITDA; sellers: The Kessler Family Trust / Northland Growth Equity Fund III, LP) | Completed
November 25, 2025 | Rating agency management presentation to Palladian Credit Research and Veridian Ratings Group | Completed
December 1, 2025 | Calderwood & Harkness LLP engagement opened (Matter No. 1005-00002); Broadleaf Securities LLC initial purchaser mandate letter executed | Completed
December 3, 2025 | Offering launch; Offering Memorandum Supplement distributed to QIBs (Rule 144A) and non-U.S. persons (Reg S) | Expected
December 4, 2025 | Bring-down due diligence call with Nexford management | Expected
December 5, 2025 | Pricing of $150,000,000 add-on notes (issue price 101.500%; est. YTW ~8.450%); Purchase Agreement executed | Expected
December 9, 2025 | UCC lien search results due; final document review and sign-off | Expected
December 10, 2025 | Closing and settlement of add-on notes (T+3 from pricing); all closing deliverables due | Expected
December 12, 2025 | Kessler Precision Components, Inc. acquisition closing (funded from notes proceeds) | Expected
December 17, 2025 | Closing binder distribution target (5 business days post-closing) | Upcoming
January 11, 2026 | Kessler Precision Components, Inc. — deadline for joinder as Subsidiary Guarantor (30 days post-acquisition closing) | Upcoming
January 19, 2026 | Expiration of 40-day Reg S distribution compliance period; add-on notes become fungible with existing notes (CUSIPs merge to 65438T AA5 / U65438 AA7) | Upcoming
March 15, 2026 | First optional redemption date (104.375% of par); equity clawback deadline (up to 40% at 108.750%) | Upcoming
March 15, 2027 | Second optional redemption step-down (102.188%) | Upcoming
September 15, 2027 | ABL facility maturity ($200,000,000 commitment; Lakefront National Bank as agent) | Upcoming
March 15, 2028 | Par call date (100.000%) | Upcoming
December 10, 2026 | Exchange offer registration statement effectiveness deadline (365 days from closing) | Upcoming
March 15, 2030 | Notes maturity date — 8.750% Senior Secured Notes due 2030 ($625,000,000 aggregate post-tap) | Upcoming
[sheet: Subsidiary Guarantors]
No. | Full Legal Name | Short Name | Entity Type | Jurisdiction of Organization | Good Standing Certificate Source | Good Standing Status
0 | Nexford Parent Corp. | Parent | Corporation | Delaware | Delaware Secretary of State | Pending
1 | Nexford Thermal Systems, LLC | NTS | LLC | Delaware | Delaware Secretary of State | Pending
2 | Nexford Fastener Group, Inc. | NFG | Corporation | Delaware | Delaware Secretary of State | Pending
3 | Nexford Aerospace Components, Inc. | NAC | Corporation | Delaware | Delaware Secretary of State | Pending
4 | Prairie Metal Works, LLC | PMW | LLC | Illinois | Illinois Secretary of State | Pending
5 | Great Lakes Precision, Inc. | GLP | Corporation | Michigan | Michigan DLRA | Pending
6 | Nexford Defense Solutions, LLC | NDS | LLC | Delaware | Delaware Secretary of State | Pending
7 | Nexford Energy Products, Inc. | NEP | Corporation | Texas | Texas Secretary of State | Pending
8 | Veltrano Tool & Die, LLC | RTD | LLC | Ohio | Ohio Secretary of State | Pending
9 | Nexford International Holdings, Inc. | NIH Intl | Corporation | Delaware | Delaware Secretary of State | Pending
* | Kessler Precision Components, Inc. (post-closing) | Kessler | Corporation | Ohio | Ohio Secretary of State | N/A — joinder required within 30 days of Kessler acquisition closing (expected December 12, 2025); EIN: 31-1784623