Blue Star Foods Acquires Grande Foods

TL;DR

BSFC buying Grande Foods to expand seafood biz.

AI Summary

Blue Star Foods Corp. announced on June 5, 2024, that it has entered into a definitive agreement to acquire 100% of the outstanding shares of Grande Foods, Inc. for an undisclosed amount. This acquisition is expected to significantly expand Blue Star Foods' product offerings and market reach within the seafood industry.

Why It Matters

This acquisition could lead to increased revenue and market share for Blue Star Foods by integrating Grande Foods' operations and product lines.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and unforeseen liabilities, which could impact Blue Star Foods' financial performance.

Key Players & Entities

• Blue Star Foods Corp. (company) — Registrant
• Grande Foods, Inc. (company) — Acquisition Target
• June 5, 2024 (date) — Announcement Date

FAQ

Key Financial Figures

• $0.0001 B — nge on which registered Common Stock, $0.0001 BSFC The Nasdaq Stock Market LLC (Nas
• $1.00 — 2) by evidencing a closing bid price of $1.00 or more per share for a minimum of ten

Filing Documents

• form8-k.htm (8-K) — 34KB
• 0001493152-24-022784.txt ( ) — 202KB
• bsfc-20240605.xsd (EX-101.SCH) — 3KB
• bsfc-20240605_lab.xml (EX-101.LAB) — 33KB
• bsfc-20240605_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report: June 5, 2024 BLUE STAR FOODS CORP. (Exact name of registrant as specified in its charter) Delaware 001-40991 82-4270040 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 3000 NW 109th Avenue Miami , Florida 33172 (Address of principal executive offices) Registrant's telephone number, including area code: (305) 836-6858 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbols Name of each exchange on which registered Common Stock, $0.0001 BSFC The Nasdaq Stock Market LLC (Nasdaq Capital Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 8.01 Other Events. As previously disclosed, on April 10, 2024, Blue Star Food Corp., a Delaware corporation (the "Company"), received a letter from the Nasdaq Hearings Panel (the "Panel") indicating that the Company's request for continued on Nasdaq was granted subject to the following: (i) on or before April 1, 2024, the Company will file its Form 10-K for the period ended December 31, 2023 demonstrating compliance with Listing Rule 5550(b)(1); (ii) on or before May 15, 2024, the Company will file its Form 10-Q for the period ended March 31, 2024 demonstrating continued compliance with Listing Rule 5550(b)(1), and (iii) on or before May 30, 2024, the Company shall have demonstrated compliance with Listing Rule 5550(a)(2) by evidencing a closing bid price of $1.00 or more per share for a minimum of ten (10) consecutive trading sessions, and evidence compliance with all applicable criteria for continued listing. On May 30, 2024, the Company received a letter from the Panel indicating that the May 30, 2024 date had been extended to June 5, 2024. The Company believes it has demonstrated compliance with Listing Rule 5550(a)(2). 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 hereunto duly authorized. BLUE STAR FOODS CORP. Date: June 5, 2024 By: /s/ John Keeler John Keeler Executive Chairman and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR