RiceBran Technologies: M&A transaction — RiceBran Technologies ceases ops; creditor Funicular acquires assets via $3.5M credit bid

RiceBran Technologies

Company defaulted on $5.4M secured notes; creditor accelerated maturity on Sept 20, 2024.
Public auction held Oct 24, 2024; Funicular Funds credit bid $3.5M for substantially all assets.
Sale closed Oct 31, 2024; company ceased all business operations.
Borrower had no funds to repay and no commitments for additional funds.
MGI Grain equity and other assets transferred; remaining debt still owed but unsecured.

item 1.01 item 8.01 item 2.01 item 2.04 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.7

RiceBran Technologies completed a disposition involving Cibus Corp. (closed 2024-11-01).

Action: disposition
Counterparty: Cibus Corp.
Closing: 2024-11-01

Exact text from the filing

Item 2.01 Completion of Acquisition or Disposition of Assets. The information set forth under Item 8.01 of this Current Report on Form 8-K is incorporated into this Item 2.01 by reference.

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Source: SEC EDGAR

accession 0001437749-24-033613

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