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Stock impact report

Alico, Inc. Announces Amendment to Credit Agreement Supporting Strategic Transformation

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: GlobeNewswire
FORT MYERS, Fla., April 01, 2025 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or “the Company”) (Nasdaq: ALCO) today announced it has entered into an Amendment No. 7 (the “Amendment”) to the First Amended and Restated Credit Agreement, between the Company, and by MetLife Investment Management, LLC for each of Metropolitan Life Insurance Company and New England Life Insurance Company, dated as of December 1, 2014 and as amended to date (collectively, the “Credit Agreement”). The Amendment, which became effective March 31, 2025, adjusts certain financial covenants to support the Company’s evolving business model as it progresses through its strategic transformation. Among other items, the Amendment reduces the level of Crop and Tree Insurance coverage requirements required for the 2025/2026 harvest season, which is expected to result in cost savings for Alico. John Kiernan, President and Chief Executive Officer of the Company, stated, “These amendments to our credit agreement better ali Show less Read more
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