Village Farms International Enters Material Definitive Agreement

TL;DR

VFF signed a big deal, details TBD.

AI Summary

Village Farms International, Inc. announced on May 24, 2024, that it has entered into a material definitive agreement. The filing does not provide specific details about the agreement, its terms, or any associated financial figures.

Why It Matters

This filing indicates a significant new development for Village Farms International, potentially impacting its business operations and future financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and implications of the material definitive agreement.

Key Players & Entities

• Village Farms International, Inc. (company) — Registrant

FAQ

From the Filing

0000950170-24-067298.txt : 20240531 0000950170-24-067298.hdr.sgml : 20240531 20240531160511 ACCESSION NUMBER: 0000950170-24-067298 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240524 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240531 DATE AS OF CHANGE: 20240531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Village Farms International, Inc. CENTRAL INDEX KEY: 0001584549 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38783 FILM NUMBER: 241009602 BUSINESS ADDRESS: STREET 1: 4700 - 80TH STREET CITY: DELTA, BRITISH COLUMBIA STATE: Z4 ZIP: V4K 3N3 BUSINESS PHONE: 732-676-3008 MAIL ADDRESS: STREET 1: 4700 - 80TH STREET CITY: DELTA, BRITISH COLUMBIA STATE: Z4 ZIP: V4K 3N3 8-K 1 vff-20240524.htm 8-K 8-K false 0001584549 00-0000000 0001584549 2024-05-24 2024-05-24   UNITED STATES 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 (Date of earliest event reported): May 24, 2024     VILLAGE FARMS INTERNATIONAL, INC. (Exact name of Registrant as Specified in Its Charter)     Ontario 001-38783 Not applicable (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           4700-80th Street British Columbia Canada   Delta , British Columbia , Canada   V4K 3N3 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: (604) 940-6012     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant 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 Symbol(s)   Name of each exchange on which registered Common Shares, without par value   VFF   The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange 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 1.01 Entry into a Material Definitive Agreement. Amendment to Term Loan Facility. On May 24, 2024, Village Farms International, Inc. ("Village Farms" or “the Company”), entered into a Second Amended and Restated Credit Agreement (the “Amendment”) with Bank of Montreal ("BMO") as the lender. The Amendment, among other things, extends the maturity date to May 24, 2027. The Amendment amends and restates the Company’s exiting Amended and Restated Credit Agreement with BMO dated May 7, 2021 (the “Credit Agreement”). A copy of the Credit Agreement was