RICEBRAN TECHNOLOGIES (NASDAQ:RIBT) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet ArrangementItem 2.04
Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
As previously disclosed on February 15, 2017 in the Company’s Current Report on Form 8-K, the Company entered into a securities purchase agreement on February 9, 2017 with certain accredited investors, to which the Company sold and issued an aggregate principal amount of $6,600,000 of original issue discount senior secured debentures (“Debentures”) and warrants to purchase an aggregate of 6,875,000 shares of common stock.
to the terms of the Debentures, the holders of Debentures had the right to require the Company to redeem their Debentures for a price equal to the principal amount of the Debentures in connection with the completion of the Asset Sale. On July 14, 2017, all of the holders of the Debentures elected to require the Company to redeem the Debentures. In accordance with that election, the Company redeemed all the outstanding Debentures on July 14, 2017 following completion of the Asset Sale by paying to the holders of the Debentures a total of $6,600,000.
In addition to the payments described in Item 2.04 of this Current Report on Form 8-K, on July 14, 2017 the Company used $5,963,149 of the proceeds from the Asset Sale to pay all outstanding principal and accrued interest on its subordinated promissory notes.
| Item 9.01 |
Financial Statements and Exhibits |
(b) Pro forma financial information.
The unaudited pro forma financial information required by Item 9.01(b) of Form 8-K is included as Exhibit 99.2 hereto and incorporated herein by reference.
(d) Exhibits.
Exhibit
| 99.2 |
Pro Forma Financial Information listed in Item 9.01(b). |
RiceBran Technologies ExhibitEX-99.2 2 ex99_2.htm EXHIBIT 99.2 Exhibit 99.2 Unaudited Pro Forma Financial Statements On July 14,…To view the full exhibit click here
About RICEBRAN TECHNOLOGIES (NASDAQ:RIBT)
RiceBran Technologies is a human food ingredient, functional food ingredient, packaged functional food and animal nutrition company. The Company is focused on processing and marketing of nutrient dense products derived from raw rice, an underutilized by-product of the rice milling industry. The Company has two operating segments. The USA segment manufactures and distributes stabilized rice bran (SRB) (for human food ingredient and animal nutrition customers) and derivative products. The Brazil segment extracts crude rice bran oil (RBO) and defatted rice bran (DRB) from rice bran, which are then further processed into fully refined rice bran oil for sale internationally and in Brazil, compounded animal nutrition products for horses, cows, swine, sheep and poultry and a range of human food and animal nutrition products. The Brazil segment consists of the operations of Nutra S.A. LLC subsidiary, whose only operating subsidiary is Industria Riograndens De Oleos Vegetais Ltda. (Irgovel).