secwatch.observer — SEC 8-K summary
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Issuer:     LIFECORE BIOMEDICAL, INC. DE (LFCR)
CIK:        0001005286
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001005286-24-000144
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lifecore raises $24.3M via stock sale; Q1 net loss widens to $16.2M, reaffirms FY25 guidance
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- Sold 5,928,775 shares at $4.10 for gross proceeds of $24.3M to investors including Legion Partners, Greenhaven, Wynnefield, 325 Capital.
- Q1 FY25 revenue $24.7M (flat YoY); net loss $16.2M ($0.53 per share) vs $10.8M loss prior year.
- Adjusted EBITDA $(1.8)M in line with prior year $(2.0)M; FY25 guidance reaffirmed: rev $126.5-130M, Adj EBITDA $19-21M.
- Installed 5-head isolator filler doubling capacity to $300M revenue potential; signed four new customers including Lindy Biosciences.
- Regained Nasdaq compliance; added two sales reps; plans Investor Day in November to detail medium-term targets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005286/000100528624000144/0001005286-24-000144-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005286/000100528624000144/lndc-20241003.htm
  HTML page:      https://secwatch.observer/filing/0001005286-24-000144

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