AgriForce Growing Systems Files 8-K with Key Agreements
Ticker: AVX · Form: 8-K · Filed: Jan 16, 2025 · CIK: 1826397
| Field | Detail |
|---|---|
| Company | Agriforce Growing Systems Ltd. (AVX) |
| Form Type | 8-K |
| Filed Date | Jan 16, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $7.7 million, $42.3 million, $7.0 million, $2.62, $750,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, equity-sale
TL;DR
AGRIFORCE files 8-K: material agreements, financial obligations, and equity sales reported Jan 16, 2025.
AI Summary
On January 16, 2025, AgriForce Growing Systems Ltd. filed an 8-K report detailing several significant events. These include entering into a material definitive agreement, creating a direct financial obligation, and reporting unregistered sales of equity securities. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates significant corporate actions and potential financial commitments for AgriForce Growing Systems, which could impact its operational and financial standing.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which can introduce financial and operational risks.
Key Players & Entities
- AGRIFORCE GROWING SYSTEMS LTD. (company) — Registrant
- January 16, 2025 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did AgriForce Growing Systems Ltd. enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on or before January 16, 2025.
What is the nature of the direct financial obligation or off-balance sheet arrangement?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details are not provided in this summary.
When were the unregistered sales of equity securities reported?
The unregistered sales of equity securities are reported as part of the events on January 16, 2025.
What is the principal executive office address for AgriForce Growing Systems Ltd.?
The principal executive offices are located at 800-525 West 8th Avenue, Vancouver, BC, Canada, V5Z 1C6.
What is the SIC code for AgriForce Growing Systems Ltd.?
The Standard Industrial Classification (SIC) code for AgriForce Growing Systems Ltd. is 3448, which corresponds to Prefabricated Metal Buildings & Components.
Filing Stats: 1,500 words · 6 min read · ~5 pages · Grade level 13.2 · Accepted 2025-01-16 17:29:15
Key Financial Figures
- $7.7 million — Investors") with an initial purchase of $7.7 million principal amount of debentures ("Debent
- $42.3 million — ts ("Warrants") and up to an additional $42.3 million principal amount of Debentures and acco
- $7.0 million — expects to receive an initial amount of $7.0 million (gross of fees which will be deducted f
- $2.62 — l conversion price of the Debentures is $2.62 per share. The Debentures are due in 12
- $750,000 — on the principal Trading Market exceeds $750,000 per Trading Day, the Company is not in
- $10.00 — 2.62 and as a result thereof, the prior $10.00 (post split) floor is no longer applica
- $2.882 — overage at an initial exercise price of $2.882 per share, subject to customary adjustm
Filing Documents
- form8-k.htm (8-K) — 53KB
- ex10-1.htm (EX-10.1) — 295KB
- ex10-2.htm (EX-10.2) — 201KB
- ex10-3.htm (EX-10.3) — 126KB
- ex10-4.htm (EX-10.4) — 178KB
- ex10-5.htm (EX-10.5) — 91KB
- ex10-6.htm (EX-10.6) — 135KB
- 0001493152-25-002585.txt ( ) — 1464KB
- agri-20250116.xsd (EX-101.SCH) — 3KB
- agri-20250116_lab.xml (EX-101.LAB) — 33KB
- agri-20250116_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
01 above
Item 1.01 above. Item 3.02 Unregistered Sale of Equity Securities See
02 above
Item 3.02 above. Item 9.01 Exhibit 10.1 Form of Securities Purchase Agreement 10.2 Form of Debenture 10.3 Form of Warrant 10.4 Form of Registration Rights Agreement 10.5 Form of Subsidiary Guaranty 10.6 Form of Security Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: January 16, 2025 AGRIFORCE GROWING SYSTEMS, LTD. By: /s/ Jolie Kahn Name: Jolie Kahn, CEO