ALICO, INC. (NASDAQ:ALCO) Files An 8-K Entry into a Material Definitive Agreement
On each of May 18, 2020 and May 20, 2020 Alico, Inc. entered into a new agreement to supply its largest customer with citrus fruit. These new agreements are effective October 1, 2020, conclude on July 31, 2024, and succeed an existing agreement with this customer that is set to expire at the end of September 2020.
Each of the new agreements may be terminated (i) by the mutual written consent of Alico and the customer, or (ii) by either party to the new agreements if there has been a breach of the other party’s representations, warranties, covenants, agreements or obligations thereunder which breach is not cured within the applicable cure period.
The foregoing description of the material terms of the new agreements are not complete and are qualified in their entirety by reference to the full text of the new agreements, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and are incorporated herein by reference.
On May 21, 2020, Alico issued a press release announcing it has entered into two new agreements with its largest customer to supply citrus fruit. A copy of the press release is filed with this Form 8-K and attached hereto as Exhibit 99.1 and incorporated by reference herein.
>>* to Item 601(b)(10)(iv) of Regulation S-K promulgated by the SEC, certain portions of this exhibit have been redacted. The Company hereby agrees to furnish supplementally to the SEC, upon its request, an unredacted copy of this exhibit.
ALICO, INC. Exhibit
EX-10.1 2 alico45mmr512contract-reda.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1* CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT,…
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About ALICO, INC. (NASDAQ:ALCO)
Alico, Inc. is an agribusiness and natural resources management company. The Company’s segments include Orange Co., Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co. segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus. The conservation and environmental resources segment includes activities related to cattle grazing, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pasture land. The other operations segment consists of activities related to rock mining royalties, oil exploration and other insignificant lines of business.
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