Alto Ingredients, Inc. — fact timeline

Alto Ingredients, Inc. reported financial results for the three months ended March 31, 2026.

“On May 6, 2026, Alto Ingredients, Inc. issued a press release announcing certain results of operations for the three months ended March 31, 2026.”

Alto Ingredients, Inc. reported financial results for the quarter and year ended December 31, 2025.

“On March 4, 2026, Alto Ingredients, Inc. issued a press release announcing certain results of operations for the three and twelve months ended December 31, 2025.”

Alto Ingredients, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

“May 19, 2025, Alto Ingredients, Inc. (the “Company”) received a letter from the listing qualifications staff of The Nasdaq Stock Market (“Nasdaq”) indicating that the bid price of the Company’s common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing under Nasdaq Listing Rule 5550(a)(2). Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, ending November 15, 2025, to regain compliance. The letter states that the Nasdaq staff will provide written notification that”

Michael D. Kandris departed as Director at Alto Ingredients, Inc..

“On March 17, 2025, Michael D. Kandris, a member of the Board, notified the Company that he will not stand for re-election to the Board at the Company’s upcoming 2025 Annual Meeting, and therefore his term as a director will end at the 2025 Annual Meeting.”

Douglas L. Kieta departed as Chairman of the Board at Alto Ingredients, Inc..

“On March 17, 2025, Douglas L. Kieta, the Chairman of the Board of the Company notified the Company that he will not stand for re-election to the Board at the Company’s upcoming 2025 Annual Meeting to be held on June 25, 2025, and therefore his term as a director will end at the 2025 Annual Meeting.”

Todd E. Benton was appointed as Chief Operating Officer at Alto Ingredients, Inc..

“the Board appointed Todd E. Benton, effective as of April 1, 2024, to serve as the Chief Operating Officer of the Company.”

Michael D. Kandris resigned as Interim Chief Operating Officer at Alto Ingredients, Inc..

“Michael D. Kandris advised Alto Ingredients, Inc. (the “Company”) that he will resign from his position as Interim Chief Operating Officer of the Company effective as of April 1, 2024.”

Alto Ingredients, Inc. reported Year ended December 31, 2023 results: net income -29.3 million, EPS -0.40.

“Net sales were $1,222.9 million, compared to $1,335.6 million.”

Alto Ingredients, Inc. reported Three months ended December 31, 2023 results: net income -19.3 million, EPS -0.26.

“Net sales were $273.6 million, compared to $328.4 million.”

Alto Ingredients, Inc.: Amended and restated bylaws to revise advance notice provisions, adopt universal proxy rules, require white proxy card for solicitors, update technical changes per Rule 14a-19, eliminate stockholder list examination requirement, and establish exclusive federal forum for Securities Act claims (effective 2024-02-29).

“On February 29, 2024, the Board of Directors (the “Board”) of Alto Ingredients, Inc. (the “Company”) approved and adopted amended and restated bylaws (the “Amended and Restated Bylaws”) of the Company, effective immediately.”

Alto Ingredients, Inc. reported the nine months ended September 30, 2023 results: revenue $949.3 million, net income Net loss available to common stockholders ... was $10.0 million, or $0.14 per share, EPS $0.14 per share.

“with an option to request up to an additional $25 million under the facility. Financial Results for the Nine Months Ended September 30, 2023 Compared to 2022 ● Net sales were $949.3 million, compared to $1,007.2 million. ● Cost of goods sold was $931.1 million, compared to $1,013.4 million. ● Gross profit was $18.2 million, compared to a gross loss of $6.2 million.”

Alto Ingredients, Inc. reported the quarter ended September 30, 2023 results: revenue $318.1 million, net income Net loss available to common stockholders ... was $3.8 million, or $0.05 per share, EPS $0.05 per share.

“about the prospects and confident in our long-term growth strategy.” Financial Results for the Three Months Ended September 30, 2023 Compared to 2022 ● Net sales were $318.1 million, compared to $336.9 million. ● Cost of goods sold was $314.0 million, compared to $356.7 million. ● Gross profit was $4.2 million, compared to a gross loss of $19.8 million. ●”

Alto Ingredients, Inc. updated its the third quarter of 2023 guidance (initiated).

“Based on current trends, we expect to post positive Adjusted EBITDA in the third quarter of 2023 as well.”

Alto Ingredients, Inc. reported the six months ended June 30, 2023 results: revenue $631.2 million, net income $6.2 million, EPS $0.08 per diluted share.

“● Net sales were $631.2 million, compared to $670.3 million. ● Cost of goods sold was $617.2 million, compared to $656.7 million. ● Gross profit was $14.0 million, compared to $13.6 million. ● Selling, general and administrative expenses were $15.8 million, compared to $16.6 million. ● Operating loss was $2.4 million, compared to $3.0 million. ● Net loss available to common stockholders was $6.2 million, or $0.08 per diluted share, compared to net income available to common stockholders of $18.6 million, including the $22.7 million USDA cash grant, or $0.26 per diluted share.”

Alto Ingredients, Inc. reported the quarter ended June 30, 2023 results: revenue $317.3 million, net income $7.2 million, EPS $0.10 per diluted share.

“● Net sales were $317.3 million, compared to $362.2 million. ● Cost of goods sold was $300.1 million, compared to $353.3 million. ● Gross profit was $17.2 million, compared to $8.8 million. ● Selling, general and administrative expenses were $7.9 million, compared to $9.0 million. ● Operating income was $9.3 million, compared to an operating loss of $152,000. 1 ● Net income available to common stockholders was $7.2 million, or $0.10 per diluted share, compared to $21.5 million, which included a $22.7 million USDA cash grant, or $0.29 per diluted share.”

Robert R. Olander was appointed as Chief Financial Officer at Alto Ingredients, Inc..

“Effective August 1, 2023, the Board appointed Robert R. Olander to serve as the Company’s Chief Financial Officer.”

Michael D. Kandris was appointed as Interim Chief Operating Officer at Alto Ingredients, Inc..

“On the same date, the Board appointed Mr. Kandris to serve as the Company’s Interim Chief Operating Officer for a period of up to one year.”

Michael D. Kandris retired as President and Chief Executive Officer at Alto Ingredients, Inc..

“Effective August 1, 2023, Michael D. Kandris retired as President and Chief Executive Officer of the Company.”

Bryon T. McGregor was appointed as President and Chief Executive Officer at Alto Ingredients, Inc..

“the Board of Directors (the “Board”) of the Company appointed Bryon T. McGregor to serve as the Company’s President and Chief Executive Officer.”

Alto Ingredients, Inc. shareholders approved Ratification of RSM US LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-06-22 meeting.

“Proposal Four : To ratify the appointment of RSM US LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023. Total Votes For 51,746,796 Against 1,152,716 Abstain 453,074 Broker Non-Votes N/A”

Alto Ingredients, Inc. shareholders approved Approval of amendment to 2016 Stock Incentive Plan to increase authorized shares from 8,900,000 to 11,400,000 at the 2023-06-22 meeting.

“Proposal Three : To approve an amendment to the Company’s 2016 Stock Incentive Plan to increase the number of shares of common stock authorized for issuance under the plan from 8,900,000 shares to 11,400,000 shares. Total Votes For 28,316,771 Against 9,337,222 Abstain 82,150 Broker Non-Votes 15,616,443”

Alto Ingredients, Inc. shareholders approved Advisory vote on compensation of named executive officers (say-on-pay) at the 2023-06-22 meeting.

“Proposal Two : To approve the 2022 compensation of the Company’s named executive officers, as disclosed in the proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission (“say-on-pay”). Total Votes For 31,475,018 Against 6,076,809 Abstain 184,316 Broker Non-Votes 15,616,443”

Alto Ingredients, Inc. shareholders approved Election of five directors to serve until next annual meeting at the 2023-06-22 meeting.

“Proposal One : To elect five directors to serve on the Company’s board of directors until the next annual meeting of stockholders and/or until their successors are duly elected and qualified. The nominees for election were Michael D. Kandris, Maria G. Gray, Douglas L. Kieta, Gilbert E. Nathan and Dianne S. Nury. The following nominees were elected by the votes indicated to serve as directors until the next annual meeting of stockholders and/or until their successors are duly elected and qualified: Name Total Votes for Director Total Votes Withheld from Director Total Broker Non-Votes Michael D. Kandris 36,734,265 1,001,878 15,616,443 Maria G. Gray 36,785,440 950,703 15,616,443 Douglas L. Kieta 33,519,763 4,216,380 15,616,443 Gilbert E. Nathan 36,465,430 1,270,713 15,616,443 Dianne S. Nury 35,181,727 2,554,416 15,616,443”

Alto Ingredients, Inc. reported the quarter ended March 31, 2023 results: revenue $313.9 million, net income $13.5 million, EPS $0.18 per share. Guidance initiated.

“Financial Results for the Three Months Ended March 31, 2023 Compared to 2022 ● Net sales were $313.9 million, compared to $308.1 million. ● Cost of goods sold was $317.1 million, compared to $303.3 million. ● Gross loss was $3.2 million, compared to gross profit of $4.8 million. ● Selling, general and administrative expenses were $7.9 million, compared to $7.6 million. ● Operating loss was $11.6 million, compared to $2.9 million. ● Net loss available to common stockholders was $13.5 million, or $0.18 per share, compared to $2.9 million, or $0.04 per share.”

Alto Ingredients, Inc. reported financial results for three and twelve months ended December 31, 2022.

“On March 9, 2023, Alto Ingredients, Inc. issued a press release announcing certain results of operations for the three and twelve months ended December 31, 2022.”

Alto Ingredients, Inc. amended credit facility of Not changed; existing facility amended with Wells Fargo Bank, National Association, Kinergy Marketing LLC, Alto Nutrients, LLC at Not changed maturing Extended from 2023 to 2027.

“Under Amendment No. 6, the parties agreed, among other things, to extend the maturity date of the loans under the Second Amended and Restated Credit Agreement from 2023 to 2027. The parties also agreed to amend the fixed charge coverage ratio from not less than 2.00 to 1.00 to not less than 1.10 to 1.00 and amended the amount of cash distributions that Kinergy or Alto Nutrients could make to the Company from up to 50% of excess cash flow to up to 75% of excess cash flow.”

Alto Ingredients, Inc. incurred credit facility of Up to $125,000,000, with initial advance up to $100,000,000 and up to an additional $25,000,000 with certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC (administrative agent and collateral agent) at 10% per annum fixed maturing November 7, 2028 or earlier upon acceleration.

“On November 7, 2022, Alto Ingredients, Inc. (the “Company”) entered into a Credit Agreement, dated November 7, 2022 (the “Credit Agreement”), by and among the Company, the Subsidiary Guarantors (as defined in the Credit Agreement) from time to time party thereto, certain funds managed by Orion Infrastructure Capital (collectively, the “Lenders”), and OIC Investment Agent, LLC, as administrative agent and collateral agent (“OIC”), under which the Lenders agreed to extend a senior secured credit facility in an amount of up to $125,000,000 in accordance with the terms of the Credit Agreement (the “Credit Facility”).”

Alto Ingredients, Inc. amended Amendment No. 6 to Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, Kinergy and Alto Nutrients (effective 2022-11-07).

“On November 7, 2022, Kinergy and Alto Nutrients entered into an Amendment No. 6 to Second Amended and Restated Credit Agreement, dated November 7, 2022 (“Amendment No. 6”), by and among Wells Fargo Bank, National Association (“Wells Fargo”), Kinergy and Alto Nutrients further amending that certain Second Amended and Restated Credit Agreement dated August 2, 2017 by and among Wells Fargo, the financial institutions from time to time party thereto as lenders, Kinergy and Alto Nutrients (as amended, the “Second Amended and Restated Credit Agreement”).”

Alto Ingredients, Inc. entered into Credit Agreement with certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC valued at up to $125,000,000 (effective 2022-11-07).

“On November 7, 2022, Alto Ingredients, Inc. (the “Company”) entered into a Credit Agreement, dated November 7, 2022 (the “Credit Agreement”), by and among the Company, the Subsidiary Guarantors (as defined in the Credit Agreement) from time to time party thereto, certain funds managed by Orion Infrastructure Capital (collectively, the “Lenders”), and OIC Investment Agent, LLC, as administrative agent and collateral agent (“OIC”), under which the Lenders agreed to extend a senior secured credit facility in an amount of up to $125,000,000 in accordance with the terms of the Credit Agreement (the “Credit Facility”).”

Alto Ingredients, Inc. reported the three months ended September 30, 2022 results: revenue $336.9 million, net income $28.4 million, EPS $0.39 per share.

“Alto Ingredients, Inc. Reports Third Quarter 2022 Results ● Grew Net Sales to $336.9 Million, Up 10% from Q3 2021”

Christopher W. Wright retired as Senior Vice President at Alto Ingredients, Inc..

“On May 27, 2022, Christopher W. Wright, Senior Vice President, a named executive officer, and former Vice President, General Counsel and Secretary, retired from his service as an employee of Alto Ingredients, Inc.”