Above Food Ingredients Stock Price, News & Analysis

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.

Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) has announced a significant breakthrough in lentil crop protection. Its subsidiary, Discovery Seed Labs, in collaboration with BASF Canada, has developed a quantitative molecular assay to detect Group 11 resistance in anthracnose disease affecting lentils. This innovation comes at a important time, as recent research indicates widespread Group 11 resistant anthracnose in Saskatchewan, with 99% of sampled fields showing some level of resistance.

The new assay can detect resistant strains in both plant and seed samples, enabling growers to make informed decisions about disease management and fungicide use. This development strengthens Above Food's position in disruptive agriculture solutions and supports its seed-to-fork platform. Growers interested in testing can contact Above Food for more information.

Above Food Ingredients Inc. (Nasdaq: ABVE) has completed the acquisition of The Redwood Group's Montana-based specialty crop food ingredient division for US$34 million plus working capital. This strategic move expands Above Food's market share in high-growth sectors, particularly the US$26 billion plant-based pet food market, which accounted for about 40% (US$65M) of the acquired assets' fiscal 2023 revenue. The acquisition also strengthens Above Food's position in the US$15 billion global chickpea market.

The deal includes two processing facilities in Montana's 'Golden Triangle,' increasing Above Food's processing capacity by 56,000 metric tons. The company expects to improve utilization rates at its Saskatoon-based Ingredient Center, potentially leading to enhanced production capacity and improved gross margins. This acquisition aligns with Above Food's 'Seed-to-Fork' approach and is expected to generate long-term value for shareholders.