secwatch.observer — SEC 8-K summary
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Issuer:     SunOpta Inc. (STKL)
CIK:        0000351834
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001062993-24-008533
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/351834/000106299324008533/0001062993-24-008533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/351834/000106299324008533/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-24-008533

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