Innovative Food Holdings Reports Asset Acquisition/Disposition
Ticker: IVFH · Form: 8-K · Filed: Feb 16, 2024 · CIK: 312257
Sentiment: neutral
Topics: acquisition, asset-disposition, corporate-action
TL;DR
**Innovative Food Holdings just completed an asset deal, expect financial changes!**
AI Summary
Innovative Food Holdings, Inc. filed an 8-K on February 16, 2024, to report the completion of an acquisition or disposition of assets. The filing also includes financial statements and exhibits related to this event. The company, based in Bonita Springs, Florida, operates in wholesale groceries and general line distribution.
Why It Matters
This filing signals a significant change in Innovative Food Holdings' asset structure, which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The filing indicates a completed acquisition or disposition of assets, which can introduce integration risks or alter the company's operational footprint.
Key Players & Entities
- Innovative Food Holdings, Inc. (company) — Registrant
- February 16, 2024 (date) — Date of earliest event reported
- Bonita Springs, Florida (location) — Company headquarters
- 239-596-0204 (phone_number) — Registrant's telephone number
- 0000312257 (company) — Central Index Key (CIK)
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on February 16, 2024.
What is the primary business address of Innovative Food Holdings, Inc.?
The primary business address of Innovative Food Holdings, Inc. is 28411 Race Track Road, Bonita Springs, Florida 34135.
What is the telephone number for Innovative Food Holdings, Inc.?
The telephone number for Innovative Food Holdings, Inc. is (239) 596-0204.
What type of event did Innovative Food Holdings, Inc. report in this 8-K?
Innovative Food Holdings, Inc. reported the Completion of Acquisition or Disposition of Assets, along with Financial Statements and Exhibits.
What is the state of incorporation for Innovative Food Holdings, Inc.?
Innovative Food Holdings, Inc. is incorporated in Florida.
Filing Stats: 561 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-02-16 16:10:44
Key Financial Figures
- $2,455,000 — Aluminum for a total purchase price of $2,455,000.00, prior to customary closing costs. T
- $1.9 million — sts. The Company received approximately $1.9 million in net proceeds from the transaction.
Filing Documents
- innovfood20240216_8k.htm (8-K) — 24KB
- ex_627580.htm (EX-2.1) — 323KB
- ex_627580img002.jpg (GRAPHIC) — 1KB
- ex_627580img003.jpg (GRAPHIC) — 1KB
- ex_627580img004.jpg (GRAPHIC) — 2KB
- ex_627580img005.jpg (GRAPHIC) — 3KB
- ex_627580img007.jpg (GRAPHIC) — 36KB
- fr-logo.jpg (GRAPHIC) — 3KB
- 0001185185-24-000174.txt ( ) — 574KB
- ivfh-20240216.xsd (EX-101.SCH) — 3KB
- ivfh-20240216_def.xml (EX-101.DEF) — 10KB
- ivfh-20240216_lab.xml (EX-101.LAB) — 19KB
- ivfh-20240216_pre.xml (EX-101.PRE) — 10KB
- innovfood20240216_8k_htm.xml (XML) — 3KB
01
Item 2.01. Completion of Acquisition or Disposition of Assets. On February 14, 2024, Innovative Food Holdings, Inc., a Florida corporation (the " Company "), closed on the sale of its warehouse located at 28411 Race Track Road, Bonita Springs FL 34135 (the " Warehouse ") to Tag Media Group LLC, dba "Gulf Coast Aluminum" (" Gulf Coast Aluminum ", and together with the Company, the " Parties "). The Warehouse consists of approximately 1.1 acres of land and close to 10,000 square feet of combined office and warehouse space. Pursuant to a purchase and sale agreement between the Parties dated December 12, 2023 (the " Purchase Agreement "), the Company agreed to sell the Warehouse, certain warehouse racking, and a forklift to Gulf Coast Aluminum for a total purchase price of $2,455,000.00, prior to customary closing costs. The Company received approximately $1.9 million in net proceeds from the transaction. The Purchase Agreement contains customary representations, warranties, and covenants of the Parties. The foregoing description of the terms of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, which is filed herewith as Exhibit 2.1 and incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit Description 2.1 Purchase Agreement by and between the Company and Gulf Coast Aluminum, dated December 12, 2023 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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. INNOVATIVE FOOD HOLDINGS, INC. Dated: February 16, 2024 By: /s/ Robert William Bennett Robert William Bennett Chief Executive Officer and Director (Principal Executive Officer)