Risk Factors Update Summary
- Outstanding indebtedness decreased from $439 million to $363 million as of December 31, 2022 to 2023.
- Weighted average interest rate decreased from 3.23% to 3.07%, impacting borrowing costs significantly.
- Potential dilution effect from Series A preferred units conversion and redemption could impact common stockholders.
- Ownership of farmland increased from 1,959 acres to 2,114 acres in Oklahoma, facing legal challenges.
- Loans to distinct borrowers increased from nine to twelve, with total principal amounts totaling $24 million to $36 million.
- Changes in farmland ownership and environmental factors could affect crop production and profitability.
- Market price and trading volume of common stock could be subject to wide fluctuations.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1591670&owner=exclude
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