Alico amends credit agreement, allowing up to $80M land dispositions in FY2024

On December 15, 2023, Alico, Inc. (the “Company”) entered into a Fourteenth Amendment to Credit Agreement (the “Amendment”) with respect to its credit agreement dated as of December 1, 2014, as amended to date, by and among the Company, Alico-Agri, Ltd., Alico Plant World, L.L.C., Alico Fruit Company, LLC, Alico Land Development Inc., and Alico Citrus Nursery, LLC, as borrowers, and Rabo AgriFinance LLC, formerly known as Rabo AgriFinance, Inc. (“Rabo”), as lender (the “Credit Agreement”), under which, subject to the terms and conditions specified therein, Rabo consents to the Company granting to each of the parties specified in the Amendment an option to purchase land from the Company during time periods and for the amounts specified therein.