On April 2, 2026, Southland Holdings, Inc. disclosed in an 8-K filing that its wholly owned subsidiary, American Bridge Company, has entered into a Settlement Agreement with Clark/Lewis, a Joint Venture, and certain sureties. This agreement resolves disputes stemming from the Washington State Convention Center expansion project in Seattle, which had previously resulted in a judgment against American Bridge and the sureties for approximately $57.1 million. The total amount paid, including post-judgment interest, reached $57.8 million. Under the terms of the Settlement Agreement, the sureties will pay an additional $26.5 million to Clark/Lewis, which includes $25.5 million for negotiated settlement costs and approximately $1 million for American Bridge's share of court-ordered sanctions. The agreement also includes provisions for mutual releases among the parties involved, although it reserves rights related to an appeal concerning the sanctions order. The company believes that these financial obligations are consistent with prior estimates reflected in its financial statements. Negotiations are ongoing regarding repayment terms for amounts paid by the sureties on behalf of American Bridge, with a forbearance agreement in place until at least March 27, 2027.

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