Above Food Ingredients Stock Price, News & Analysis

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.

Above Food Ingredients (NASDAQ: ABVE) has requested a hearing and extended stay following a staff determination notice from Nasdaq on April 14, 2025. The company faces two compliance issues: falling below the $1.00 minimum bid price requirement since October 2024 and failing to file its July 2024 interim financial statements.

The hearing is scheduled for May 22, 2025, with ABVE expressing confidence in regaining compliance before this date. The company cites its March 2025 restructuring, which eliminated most corporate debt and improved operational profitability, along with the pending Palm transaction announced in February 2025, as key factors expected to enhance shareholder value and address the minimum bid price requirement.

ABVE plans to file the required Form 6-K before April 30, 2025, to resolve the financial reporting deficiency. The company emphasizes that its operations remain unaffected by these listing compliance matters.

Above Food Ingredients (NASDAQ: ABVE) has received a staff determination notice from Nasdaq on February 25, 2025, due to delayed filing of its Form 6-K for the period ended July 31, 2024. The company is non-compliant with Nasdaq Listing Rule 5250(c)(2), which requires submission of interim financial statements within six months of the second quarter end.

The company has 60 calendar days to submit a Compliance Plan to Nasdaq. If accepted, Nasdaq may grant up to 180 days (until July 30, 2025) to regain compliance. The filing delay was attributed to accommodate the impacts of a recent strategic restructuring and successful fundraise.

The notice has no immediate effect on ABVE's Nasdaq Capital Market listing. The company plans to use proceeds from recent financing to complete the Form 6-K filing within the 60-day period, citing improved financial position through substantial debt elimination and transition towards profitability.

Above Food Ingredients Inc. (NASDAQ: ABVE) has secured a $9 million private placement of convertible notes with institutional investors. The funding is structured in two tranches: $7 million expected to fund by March 27, 2025, and $2 million contingent on finalizing a reverse merger with Palm Global Technologies

The company's recent restructuring has significantly improved its financial position by substantially eliminating debt. The new funding will primarily support growth opportunities for its Montana-based subsidiary, Stricks Ag , which has been consistently performing well.

The company plans to invest in Palm Global to advance key initiatives, including a major agri-tech contract and the development of an AI-driven genomics division for their Grow-to-Order strategic initiative. The partnership aims to drive significant growth in profitability starting from the new fiscal year that began in February.

Above Food Ingredients Inc. (NASDAQ: ABVE) has announced a strategic restructuring, consenting to Royal Bank of Canada's application to wind up its Purely Canada Food Corp. (PCFC) subsidiaries, which was placed into receivership on March 19, 2025.

The company is pivoting towards Agri-Tech and Fin-Tech sectors, following its successful acquisition of Montana-based Stricks Ag in August 2024. With a current revenue run-rate of approximately $200 million CAD, ABVE plans to enhance margins through its intended acquisition of Palm Global Technologies Inc., announced on January 31, 2025.

The restructuring will eliminate over $25 million CAD of annual net losses from PCFC's operations. The company expects to achieve pre-tax profitability immediately following these corporate restructuring measures. The strategic move aims to focus on scaled, higher-margin specialty ingredient businesses while integrating Palm Global's FinTech, Tokenization, and DeFi Technologies with ABVE's expertise in specialty crop processing and AI technologies.

Above Food Ingredients Inc. (NASDAQ: ABVE) announced that the Royal Bank of Canada (RBC) has filed for receivership of its subsidiary, Purely Canada Food Corp. (PCFC) and four affiliated guarantor subsidiaries. PCFC has been operating with capacity for the past six months while working to meet Canadian Grain Commission relicensing requirements.

The company reported that PCFC and RBC have agreed to a two-week negotiation period to discuss terms of a forbearance agreement. Management expects to reach a resolution within this timeframe. The company notes that there are no guarantees that a negotiated forbearance agreement will be reached.

Above Food Ingredients (NASDAQ: ABVE) has signed a Letter of Intent to acquire Palm Global Technologies for approximately $180 million. The acquisition combines Above Food's vertically integrated food systems with Palm Global's advanced technology platforms in Agri-Tech, FinTech, and carbon credit securitization.

Palm Global's technology infrastructure includes AI, blockchain, and decentralized finance solutions, supporting millions of farmers across Africa, Southeast Asia, and the Americas. The company has established partnerships with notable organizations including the Peace for Life Foundation, IIMSAM, and various global institutions.

Following the acquisition, Peter Knez, former Co-Chief Investment Officer of BlackRock, will become Chairman and CEO of the combined companies. The definitive agreements are expected in February 2025. The merger aims to enhance global food security, promote sustainable agriculture, and create economic opportunities in underserved markets through technological innovation and strategic partnerships.

Above Food (NASDAQ: ABVE), an innovative food ingredient company, announces its participation in the Centurion One Capital 2nd Annual Bahamas Summit from October 22-23, 2024, at the Rosewood Baha Mar Hotel in Nassau, Bahamas. Martin Williams, Co-Founder, will present on October 23rd at 13:20 EDT, discussing the company's recent strategic acquisition of The Redwood Group, 's Specialty Crop Foods Ingredients Division.

This acquisition, generating US$164 million in revenue in FY 2023, represents significant U.S. expansion and greater penetration into human and pet food markets. The summit will feature presentations, Q&A sessions, panel discussions, and one-on-one investor meetings, providing Above Food an opportunity to showcase its growth strategy to prominent investors in the growth space.

Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) has expanded its pet food business through the acquisition of Montana-based The Redwood Group's specialty crop food ingredient division. This strategic move positions Above Food to capitalize on the US$26 billion global plant-based pet food market, projected to grow at a 9% CAGR through 2032.

Key highlights:

• Expands Above Food's pet food business to approximately US$110M of combined company revenues on a proforma basis
• Strengthens customer base of global leading pet food manufacturers
• Leverages Above Food's vertically integrated seed-to-fork platform for enhanced traceability, quality control, and customization
• Positions the company to meet growing demand for high-quality, sustainable pet nutrition solutions

The acquisition aligns with industry trends such as increasing pet ownership, pet humanization, and a focus on health and nutrition in pet food.