CYANOTECH CORP amended credit facility of $4,000,000 to $4,600,000 with Skywords Family Foundation, Inc. maturing April 12, 2027.
“The Amendment increases the amount that the Company may borrow from time to time under the Note from $4,000,000 to $4,600,000 on a revolving basis (the "Revolver"), lowers the minimum draw amount from $250,000 to $200,000, and amends the maturity date of the Revolver from April 12, 2026 to April 12, 2027.”
Debt Financings
CYANOTECH CORP amended loan with Skywords Family Foundation, Inc..
“On May 2, 2025, Cyanotech Corporation (the “Company”) entered into a Fourth Amendment (the “Amendment”) to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc. (“Skywords”), dated as of April 12, 2021 and amended on December 14, 2022, August 13, 2023, and August 9, 2024 (the “Note”). The Amendment amends Section 4 to the Note to allow the Company to elect, in its sole discretion, to pay the interest accrued during the fiscal year ended March 31, 2026 in the form of its common stock at a per share value of $1.00 per share. All other terms of the Note remain the same.”
Auditor Changes
CYANOTECH CORP engaged BPM LLP as its auditor.
“On December 10, 2024, with the Audit Committee’s approval, the Company appointed BPM as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2025.”
Auditor Changes
CYANOTECH CORP dismissed Grant Thornton LLP as its auditor.
“On December 10, 2024, the Audit Committee dismissed Grant Thornton as the Company’s independent registered accounting firm.”
Felicia Ladin departed as Chief Financial Officer at CYANOTECH CORP.
“Felicia Ladin will remain as Chief Financial Officer (“CFO”), VP of Finance and Administration, and Treasurer until her retirement date of September 5, 2024, at which point Ms. Rogerson will become CFO, VP of Finance and Administration, and Treasurer.”
Jennifer Rogerson was named as Vice President of Finance and Administration at CYANOTECH CORP.
“On August 22, 2024, Cyanotech Corporation, a Nevada corporation (the “Company”), named Jennifer Rogerson, age 35, as its Vice President (“VP”) of Finance and Administration.”
Shareholder Votes
CYANOTECH CORP shareholders approved Ratification of Grant Thornton LLP as independent registered public accounting firm for fiscal year ending March 31, 2024 at the 2023-08-24 meeting.
“To ratify the selection of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2024. Votes For Votes Against Abstentions Broker Non-Votes 4,385,284 176,329 140,820 -”
Shareholder Votes
CYANOTECH CORP shareholders approved Approval of the compensation of the Company’s Named Executive Officers at the 2023-08-24 meeting.
“To approve the compensation of the Company’s Named Executive Officers. Votes For Votes Against Abstentions Broker Non-Votes 3,075,695 439,663 38,281 1,148,794”
Shareholder Votes
CYANOTECH CORP shareholders approved Election of five nominees to the Board of Directors at the 2023-08-24 meeting.
“To elect five directors among the nominees named in the proxy statement. Name Votes For Votes Withheld Broker Non-Votes Michael A. Davis 3,123,875 429,764 1,148,794 Angela M. McElwee 3,124,761 428,878 1,148,794 David M. Mulder 3,141,474 412,165 1,148,794 David L. Vied 3,125,874 427,765 1,148,794 Matthew K. Custer 3,128,978 424,661 1,148,794”
Material Agreements
CYANOTECH CORP amended Second Amendment with Skywords Family Foundation, Inc. valued at $1,000,000 to $2,000,000 (effective 2023-08-14).
“On August 14, 2023, Cyanotech Corporation (the "Company") entered into a Second Amendment (the "Amendment") to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc. ("Skywords"), dated as of April 12, 2021 and amended on December 14, 2022 (the "Note").”
Listing & Compliance Notices
CYANOTECH CORP received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
“August 10, 2023, Cyanotech Corporation (the “Company”) received a notification letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(a)(2) (“Bid Price Rule”). The Notice provided that, in accordance with the Nasdaq Listing Rule 5810(c)(3)(A) (the Compliance Period Rule), the Company has an in”
Listing & Compliance Notices
CYANOTECH CORP received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
“May 2, 2023, Cyanotech Corporation (the “Company”) received a notification letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(a)(2) (“Bid Price Rule”). The Notice provided that, in accordance with the Nasdaq Listing Rule 5810(c)(3)(A) (the Compliance Period Rule), the Company has an initia”
Debt Financings
CYANOTECH CORP amended loan of increases the revolving amount that the Company may borrow from time to time under the Note from $500,000 to $1,000,000 with Skywords Family Foundation, Inc. maturing April 12, 2025.
“The Amendment increases the revolving amount that the Company may borrow from time to time under the Note from $500,000 to $1,000,000 and extends the maturity date to April 12, 2025.”
Material Agreements
CYANOTECH CORP amended First Amendment to Amended and Restated Promissory Note with Skywords Family Foundation, Inc. valued at $500,000 to $1,000,000 (effective 2022-12-14).
“On December 14, 2022, Cyanotech Corporation (the “Company”) entered into a First Amendment (the “Amendment”) to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc. (“Skywords”), dated as of April 12, 2021 (the “Note”). The Amendment increases the revolving amount that the Company may borrow from time to time under the Note from $500,000 to $1,000,000 and extends the maturity date to April 12, 2025.”
Matthew K. Custer was appointed as President and Chief Executive Officer at CYANOTECH CORP.
“Effective immediately upon Mr. Cysewski’s resignation, the Board of the Company has unanimously appointed Matthew K. Custer as President and Chief Executive Officer of the Company.”
Gerald Cysewski resigned as Chief Executive Officer at CYANOTECH CORP.
“Effective as of June 16, 2022, Gerald Cysewski has resigned from his position as Chief Executive Officer of Cyanotech Corporation, a Nevada corporation (the “Company”), and as a Director of the Company.”
Angela McElwee was appointed as Director at CYANOTECH CORP.
“The Board of Directors (“Board”) of Cyanotech Corporation, a Nevada corporation (the “Company”), based upon the recommendation of the Nominating and Corporate Governance Committee, has unanimously appointed Angela McElwee to serve on the Board effective as of November 8, 2021.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.