SACRAMENTO, California, April 26, 2017 /PRNewswire/ -- RiceBran Technologies (NASDAQ: RIBT, NASDAQ: RIBTW) ("RBT" or "Company"), a global leader in the production and marketing of value-added products derived from rice bran, today provided an update regarding the status of its compliance with the Listing Rules of the Nasdaq Stock Market ("Nasdaq").
AGREEMENT TERMINATED ALOTHON’S ROLL-UP RIGHTS
WILL RESULT IN RECLASSIFICATION OF OVER $9 MILLION OF DERIVATIVE WARRANT LIABILITIES TO SHAREHOLDERS’ EQUITY
EXPECTED IMPACT ON SHAREHOLDERS’ EQUITY APPEARS TO BE SUFFICIENT TO SATISFY NASDAQ SHAREHOLDERS’ EQUITY REQUIREMENT
SACRAMENTO, CA, April 6, 2017 – RiceBran Technologies (NASDAQ: RIBT and RIBTW) (“RBT”), a global leader in the production and marketing of value added products derived from rice bran, today announced that it reached an agreement on Friday, March 31, 2017, with Alothon Group, LLC (“Alothon”), its minority co-investor in Nutra SA, that terminated Alothon’s roll-up rights, a process that would have allowed Alothon to swap its equity position in Nutra SA for an equivalent value of RiceBran Technologies common stock. Eliminating Alothon’s rollup rights will allow RiceBran Technologies to reclassify approximately $9.6 million of derivative warrant liability to shareholders’ equity effective March 31, 2017.
SCOTTSDALE, Ariz., March 30, 2017 – RiceBran Technologies (NASDAQ: RIBT and RIBTW) (“RBT”), a global leader in the production and marketing of value added products derived from rice bran, today announced that it will relocate its corporate headquarters from Scottsdale, Arizona to 2928 Ramco Street, Suite 120, West Sacramento, CA 95691 on April 3, 2017.