---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-24-008533"
form_type: "8-K"
ticker: "STKL"
cik: "0000351834"
company_name: "SunOpta Inc."
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T19:47:39.036951+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# SunOpta and Oaktree agree to eliminate dividend on Series B-1 Preferred Shares

## Summary
- Eliminated dividend rights on 15,000 Series B-1 Preferred shares originally issued to Oaktree for $15M in 2020.
- Previously paid 8% cumulative dividend (PIK or cash); would have increased to 10% cash-only in Q3 2029.
- Change effective from Dec 31, 2023, with Oaktree's consent; all other rights under 2020 agreements remain unchanged.
- Eliminates future cash or share dilution from preferred dividend payments; SunOpta retains financial flexibility.

## SEC filing metadata
- accession: 0001062993-24-008533
- form_type: 8-K
- ticker: STKL
- cik: 0000351834
- company_name: SunOpta Inc.
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/351834/000106299324008533/0001062993-24-008533-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/351834/000106299324008533/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-24-008533
- JSON: https://secwatch.observer/filing/0001062993-24-008533.json
- Plain text: https://secwatch.observer/filing/0001062993-24-008533.txt

## Key facts
- Material Agreements
  SunOpta Inc. entered into Amending Agreement with Oaktree Organics, L.P., Oaktree Huntington Investment Fund II, L.P., OCM SunOpta Trustee LLC valued at Elimination of dividend rights attached to shares of Series B-1 Preferred Stock of SunOpta Foods eff (effective 2024-04-17).
  - Action: entry
  - Counterparty: Oaktree Organics, L.P., Oaktree Huntington Investment Fund II, L.P., OCM SunOpta Trustee LLC
  - Value: Elimination of dividend rights attached to shares of Series B-1 Preferred Stock of SunOpta Foods eff
  - Effective: 2024-04-17
  source text: On April 17, 2024, SunOpta Inc. (the "Company"), SunOpta Foods Inc. ("SunOpta Foods"), a wholly-owned subsidiary of the Company, Oaktree Organics, L.P., Oaktree Huntington Investment Fund II, L.P. (together with Oaktree Organics, L.P, the "Investors"), and OCM SunOpta Trustee LLC (the "Trustee"), entered into an Amending Agreement (the "Amending Agreement") related to the elimination of the dividend rights attached to shares of Series B-1 Preferred Stock of SunOpta Foods effective from and after December 31, 2023, including amending the terms of (i) the Amended and Restated Investor Rights Agreement, dated April 24, 2020, among the Company, SunOpta Foods and the Investors, (ii) the Exchange and Support Agreement, dated April 24, 2020, among the Company, SunOpta Foods and the Investors, and (iii) the Voting Trust Agreement, dated April 24, 2020, among the Company, SunOpta Foods, the Investors and the Trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/351834/000106299324008533/0001062993-24-008533-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.