Item 8.01. Other Events.
On January 20, 2021, The GEO Group, Inc. ("GEO" or the "Company") announced that
the Federal Bureau of Prisons ("BOP") has decided to not exercise the contract
renewal option for the GEO-owned, 1,878-bed Moshannon Valley Correctional
Facility in Pennsylvania, when the contract base period expires on March 31,
2021. The contract was entered into in April 2016 with a base period of five
years and with renewal options for a one year period and a six-month period. The
contract for the Moshannon Valley Correctional Facility generated approximately
$42 million in annualized revenues for GEO. GEO expects to market the Moshannon
Valley Correctional Facility to other federal and state agencies. A copy of the
press release GEO issued is filed hereto as Exhibit 99.1 and is incorporated
into this Item 8.01 by reference.
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Item 9.01. Financial Statements and Exhibits.
Exhibit
No. Description
99.1 Press Release, dated January 20, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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