Village Farms International Renames, Faces Listing Concerns

TL;DR

VFF changed its name AGAIN and might get delisted. Big red flag.

AI Summary

Village Farms International, Inc. filed an 8-K on October 21, 2024, reporting a name change from "Agro Power Development, Inc." to "Village Farms International, Inc." effective September 30, 2024. The company also previously changed its name from "Village Farms International, Inc." to "Agro Power Development, Inc." on August 15, 2013. The filing also indicates a notice of delisting or failure to satisfy continued listing rules.

Why It Matters

This filing signals potential issues with the company's stock listing status, which could impact liquidity and investor confidence, alongside a significant corporate name change.

Risk Assessment

Risk Level: high — The mention of a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule' indicates significant risk to the company's stock trading status.

Key Players & Entities

• Village Farms International, Inc. (company) — Registrant
• Agro Power Development, Inc. (company) — Former Company Name
• October 18, 2024 (date) — Date of earliest event reported
• September 30, 2024 (date) — Date of name change
• August 15, 2013 (date) — Previous name change date

FAQ

Key Financial Figures

• $1.00 — es (the "Common Shares") closed below US$1.00 from September 6, 2024 to October 17, 2

Filing Documents

• vff-20241018.htm (8-K) — 43KB
• vff-ex99_1.htm (EX-99.1) — 21KB
• img264507375_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-115703.txt ( ) — 191KB
• vff-20241018.xsd (EX-101.SCH) — 23KB
• vff-20241018_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 18, 2024, Village Farms International, Inc. ("Village Farms" or the "Company") received notification from The Nasdaq Stock Market LLC ("Nasdaq") that it is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market (Nasdaq Listing Rule 5550(a)(2)) (the "Minimum Bid Requirement") as the bid price for the Company's common shares (the "Common Shares") closed below US$1.00 from September 6, 2024 to October 17, 2024 (the "Notification"). The Notification has no immediate effect on the listing of the Common Shares on the Nasdaq Capital Market. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has until April 16, 2025 (a period of 180 calendar days from the date of Notification, the "Compliance Period") to regain compliance with the Minimum Bid Requirement. During the Compliance Period, the Common Shares will continue to trade on the Nasdaq Capital Market. If at any time before April 16, 2025, the bid price of the Common Shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, it is expected that Nasdaq would notify the Company that it has regained compliance with the Minimum Bid Requirement. In the event the Company does not regain compliance with the Minimum Bid Requirement by April 16, 2025, the Company may be eligible for an additional period of 180 calendar days to regain compliance or may be subject to delisting of the Common Shares from the Nasdaq Capital Market, at which time the Company may appeal the delisting determination to a Nasdaq Hearings Panel. The Company intends to actively monitor the bid price for its Common Shares between now and April 16, 2025, and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Requirement. We can provide no assurance, however, that the Company will be eligible for an

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On October 18, 2024, we issued a press release in accordance with Nasdaq Listing Rule 5810(b) announcing that we had received Nasdaq's notice of non-compliance dated October 18, 2024. The full text of the press release issued in connection with this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in Item 7.01 of this Current Report. The information contained in Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, is being furnished hereto and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information contained in Item 7.01 of this Current Report on Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 99.1 Press Release dated October 18, 2024 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 hereunto duly authorized. Village Farms International, Inc Date: October 18, 2024 By: /s/ Stephen C. Ruffini Name: Stephen C. Ruffini Title: Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR