Analyze the events surrounding the sale of FH’s land and buildings. Is it a subsequent event? If so, which type?

Fabrication Holdings Ltd. (FH) has been a client of KFP Partners for many years. You are an audit senior and have been assigned to the FH audit for the first time for the financial year end, December 31, 2023.
FH’s financial statements for the year ended December 31, 2023, show land and buildings at fair value of $20.8 million. As part of your subsequent events procedures, you become aware that FH sold the property in January 2024 when an independent third party made an unexpected offer of $24.5 million.
The difference between the sale price and the amount stated in the financial statements (which has not been adjusted) is material. You have not yet signed the audit report.