Above Food Ingredients Stock Price, News & Analysis

Above Food Ingredients (NASDAQ: ABVE) has achieved full compliance with NASDAQ listing requirements, meeting all criteria under Rules 5450(b)(3)(C), 5810(c)(3)(A), and 5450(a)(1). The company regained compliance with the minimum market value requirement for publicly held shares on May 27, 2025, and met the minimum bid price requirement on May 23, 2025. This compliance milestone enables ABVE to proceed with its strategic merger with Palm Global, following recent restructuring efforts that eliminated corporate debt and restored profitability. The merger, expected to complete in the coming days, positions the company to become a leader in AI-powered agri-tech, food-tech, and fintech markets.

Above Food Ingredients Inc. (NASDAQ: ABVE) has successfully met multiple NASDAQ listing compliance requirements as of May 27, 2025. The company has satisfied Listing Rule 5450(b)(3)(C) regarding minimum market value of publicly held shares, as well as Rules 5810(c)(3)(A) and 5450(a)(1). This achievement follows the company's operational restructuring efforts in Spring 2025, aimed at maximizing shareholder value. Above Food Ingredients is a plant-based ingredient company focused on delivering nutritious products with transparency, leveraging AI-driven genomics and agronomy in their seed development processes.

Palm Global Technologies and Abu Dhabi's Promax United LLC have formed a strategic joint venture called Palm Promax to revolutionize global finance. The venture launches with $350 billion in U.S. gold-based assets and aims to expand to $1.5 trillion in AA and AAA-rated Real-World Assets. Palm Global will own 30% of Palm Promax, generating high-margin revenues from two main initiatives: creating the world's leading digital fixed-income platform and establishing a globally recognized stablecoin. The partnership involves 15+ sovereign nations and aims to address international trade challenges for countries with limited currency acceptance. The venture will focus on tokenizing various assets, including gold, real estate, infrastructure, and even environmental assets like carbon credits and biodiversity reserves.

Above Food Ingredients Inc. (NASDAQ: ABVE) has announced a major strategic joint venture called Palm Promax Investments between Palm Global Technologies and Abu Dhabi's Promax United LLC. The venture launches with $350 billion in U.S. gold-based assets and aims to expand to $1.5 trillion in AA and AAA-rated Real-World Assets. Palm Promax's objectives include creating the world's leading digital fixed-income platform and establishing a globally recognized stablecoin, supported by partnerships with fifteen sovereign nations. Through Palm Global's 30% ownership stake, Above Food will benefit from the joint venture's revenue, earnings, and cash flows. The initiative combines Promax UAE's asset access and Palm Global's AI-driven DeFi ecosystem to transform global finance and strengthen Abu Dhabi's position as a financial hub.

Above Food Ingredients has advanced its strategic merger with Palm Global Technologies, reaching agreement on essential terms and conditions for the proposed combination first announced on February 6, 2025. The executive team completed their review and expressed strong support for the merger.

CEO Lionel Kambeitz and the leadership team recently visited the Emirates for final diligence and attended milestone events showcasing Palm Global's achievements. The merger aims to leverage Palm Global's FinTech platform, which integrates AI, blockchain, and decentralized finance technologies.

This strategic combination is expected to enhance shareholder value while advancing Above Food's mission of building a more sustainable global food system. The company promises timely updates on upcoming announcements from both parties.

Above Food (NASDAQ: ABVE) has released its financial results for the six-month period ending July 31, 2024, regaining compliance with Nasdaq listing requirements. The company reported revenue of US$65.2 million with a net loss of US$25.9 million, including US$14.1 million in non-recurring merger costs.

Key developments:

• Strategic acquisition of Stricks Ag in August 2024, which generated US$164 million in revenue (2023)
• Signed LOI to acquire Palm Global Technologies in February 2025
• Current revenue run-rate of approximately US$145 million
• Shift toward higher-margin, value-added products
• Elimination of majority corporate debt

The company is actively addressing its remaining Nasdaq compliance issue regarding the minimum $1 per share bid price requirement, with a hearing scheduled for May 22, 2025.

Above Food Ingredients Inc. (NASDAQ: ABVE) announced it will file its interim financial statements for July 31, 2024, on April 28, 2025, meeting Nasdaq compliance requirements before the May 22 hearing. The company has undergone significant transformation, including:

- The disposal of discontinued operations in March 2025 as part of its strategic pivot to Agri-Tech and Fin-Tech
- Acquisition of The Redwood Group in August 2024, which is exceeding performance expectations
- Recent acquisition of Palm Global Technologies, expected to boost the current revenue run-rate of CAD $200 million

The restructuring has eliminated most corporate debt and achieved operational profitability. The only remaining Nasdaq compliance issue is the stock price being below $1 per share, which the company plans to address before the May hearing.

Above Food Ingredients (NASDAQ: ABVE) has requested a hearing and extended stay following a staff determination notice from Nasdaq on April 14, 2025. The company faces two compliance issues: falling below the $1.00 minimum bid price requirement since October 2024 and failing to file its July 2024 interim financial statements.

The hearing is scheduled for May 22, 2025, with ABVE expressing confidence in regaining compliance before this date. The company cites its March 2025 restructuring, which eliminated most corporate debt and improved operational profitability, along with the pending Palm transaction announced in February 2025, as key factors expected to enhance shareholder value and address the minimum bid price requirement.

ABVE plans to file the required Form 6-K before April 30, 2025, to resolve the financial reporting deficiency. The company emphasizes that its operations remain unaffected by these listing compliance matters.

Above Food Ingredients (NASDAQ: ABVE) has received a staff determination notice from Nasdaq on February 25, 2025, due to delayed filing of its Form 6-K for the period ended July 31, 2024. The company is non-compliant with Nasdaq Listing Rule 5250(c)(2), which requires submission of interim financial statements within six months of the second quarter end.

The company has 60 calendar days to submit a Compliance Plan to Nasdaq. If accepted, Nasdaq may grant up to 180 days (until July 30, 2025) to regain compliance. The filing delay was attributed to accommodate the impacts of a recent strategic restructuring and successful fundraise.

The notice has no immediate effect on ABVE's Nasdaq Capital Market listing. The company plans to use proceeds from recent financing to complete the Form 6-K filing within the 60-day period, citing improved financial position through substantial debt elimination and transition towards profitability.