Above Food Ingredients Stock Price, News & Analysis

Above Food Ingredients (NASDAQ: ABVE) provided updates on its proposed merger with Palm Global Technologies Limited, revealing nearly 90% shareholder support for the transaction. The company appointed CBIZ CPA as its independent auditor to complete the audit within 4-6 weeks and regain Nasdaq compliance.

Palm Global's partnership with Promax United involves the tokenization of $1.5 trillion in AA+ and AAA-rated sovereign assets and a gold-backed stablecoin backed by $350 billion in U.S.-based gold assets. Palm Global's 30% stake in Palm Promax Investments is expected to add over $100 billion in net assets to its balance sheet. Additionally, 15 African nations have committed to adopting their stablecoin as official state currency.

Above Food (NASDAQ:ABVE) has executed a definitive merger agreement with Palm Global Technologies in a transformative reverse takeover. The merger will add Palm Global's 30% stake in Palm Promax Investments (PPI), valued at $350 billion in gold-based assets, to Above Food's balance sheet.

The transaction involves issuing 1.1 billion shares of Above Food to Palm Global shareholders. The combined entity will gain access to over $1.5 trillion of sovereign-owned assets for tokenization and stablecoin issuance. His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum of Dubai's royal family joins the board alongside two other new directors.

The merger positions Above Food as a market leader in real-world asset tokenization and stablecoin issuance, with partnerships across 15 sovereign nations for central bank digital currency frameworks.

Above Food Ingredients (NASDAQ: ABVE) has achieved full compliance with NASDAQ listing requirements, meeting all criteria under Rules 5450(b)(3)(C), 5810(c)(3)(A), and 5450(a)(1). The company regained compliance with the minimum market value requirement for publicly held shares on May 27, 2025, and met the minimum bid price requirement on May 23, 2025. This compliance milestone enables ABVE to proceed with its strategic merger with Palm Global, following recent restructuring efforts that eliminated corporate debt and restored profitability. The merger, expected to complete in the coming days, positions the company to become a leader in AI-powered agri-tech, food-tech, and fintech markets.

Above Food Ingredients Inc. (NASDAQ: ABVE) has successfully met multiple NASDAQ listing compliance requirements as of May 27, 2025. The company has satisfied Listing Rule 5450(b)(3)(C) regarding minimum market value of publicly held shares, as well as Rules 5810(c)(3)(A) and 5450(a)(1). This achievement follows the company's operational restructuring efforts in Spring 2025, aimed at maximizing shareholder value. Above Food Ingredients is a plant-based ingredient company focused on delivering nutritious products with transparency, leveraging AI-driven genomics and agronomy in their seed development processes.

Palm Global Technologies and Abu Dhabi's Promax United LLC have formed a strategic joint venture called Palm Promax to revolutionize global finance. The venture launches with $350 billion in U.S. gold-based assets and aims to expand to $1.5 trillion in AA and AAA-rated Real-World Assets. Palm Global will own 30% of Palm Promax, generating high-margin revenues from two main initiatives: creating the world's leading digital fixed-income platform and establishing a globally recognized stablecoin. The partnership involves 15+ sovereign nations and aims to address international trade challenges for countries with limited currency acceptance. The venture will focus on tokenizing various assets, including gold, real estate, infrastructure, and even environmental assets like carbon credits and biodiversity reserves.

Above Food Ingredients Inc. (NASDAQ: ABVE) has announced a major strategic joint venture called Palm Promax Investments between Palm Global Technologies and Abu Dhabi's Promax United LLC. The venture launches with $350 billion in U.S. gold-based assets and aims to expand to $1.5 trillion in AA and AAA-rated Real-World Assets. Palm Promax's objectives include creating the world's leading digital fixed-income platform and establishing a globally recognized stablecoin, supported by partnerships with fifteen sovereign nations. Through Palm Global's 30% ownership stake, Above Food will benefit from the joint venture's revenue, earnings, and cash flows. The initiative combines Promax UAE's asset access and Palm Global's AI-driven DeFi ecosystem to transform global finance and strengthen Abu Dhabi's position as a financial hub.

Above Food Ingredients has advanced its strategic merger with Palm Global Technologies, reaching agreement on essential terms and conditions for the proposed combination first announced on February 6, 2025. The executive team completed their review and expressed strong support for the merger.

CEO Lionel Kambeitz and the leadership team recently visited the Emirates for final diligence and attended milestone events showcasing Palm Global's achievements. The merger aims to leverage Palm Global's FinTech platform, which integrates AI, blockchain, and decentralized finance technologies.

This strategic combination is expected to enhance shareholder value while advancing Above Food's mission of building a more sustainable global food system. The company promises timely updates on upcoming announcements from both parties.

Above Food (NASDAQ: ABVE) has released its financial results for the six-month period ending July 31, 2024, regaining compliance with Nasdaq listing requirements. The company reported revenue of US$65.2 million with a net loss of US$25.9 million, including US$14.1 million in non-recurring merger costs.

Key developments:

• Strategic acquisition of Stricks Ag in August 2024, which generated US$164 million in revenue (2023)
• Signed LOI to acquire Palm Global Technologies in February 2025
• Current revenue run-rate of approximately US$145 million
• Shift toward higher-margin, value-added products
• Elimination of majority corporate debt

The company is actively addressing its remaining Nasdaq compliance issue regarding the minimum $1 per share bid price requirement, with a hearing scheduled for May 22, 2025.

Above Food Ingredients Inc. (NASDAQ: ABVE) announced it will file its interim financial statements for July 31, 2024, on April 28, 2025, meeting Nasdaq compliance requirements before the May 22 hearing. The company has undergone significant transformation, including:

- The disposal of discontinued operations in March 2025 as part of its strategic pivot to Agri-Tech and Fin-Tech
- Acquisition of The Redwood Group in August 2024, which is exceeding performance expectations
- Recent acquisition of Palm Global Technologies, expected to boost the current revenue run-rate of CAD $200 million

The restructuring has eliminated most corporate debt and achieved operational profitability. The only remaining Nasdaq compliance issue is the stock price being below $1 per share, which the company plans to address before the May hearing.