XML 68 R49.htm IDEA: XBRL DOCUMENT v3.7.0.1
Preferred Shares (Narrative) (Details) - USD ($)
3 Months Ended 6 Months Ended
Oct. 05, 2025
Dec. 31, 2016
Jul. 01, 2017
Oct. 07, 2016
Temporary Equity [Line Items]        
Temporary Equity Aggregate Amount Of Redemption Requirement       $ 85,000,000
Series A Preferred Stock [Member]        
Temporary Equity [Line Items]        
Preferred Stock Dividend Rate Percentage 12.50%   8.00%  
Preferred Stock Issuance Costs   $ 6,000,000    
Accretion Expense On Preferred Stock Issuance Costs   $ 200,000 $ 500,000  
Series A Preferred Stock [Member] | Minimum [Member] | Events of Non-Compliance [Member]        
Temporary Equity [Line Items]        
Preferred Stock Dividend Rate Percentage 1.00%   1.00%  
Series A Preferred Stock [Member] | Maximum [Member] | Events of Non-Compliance [Member]        
Temporary Equity [Line Items]        
Preferred Stock Dividend Rate Percentage 5.00%   5.00%  
Oaktree Organics Lp And Oaktree Huntington Investment Fund II Lp [Member] | Series A Preferred Stock [Member]        
Temporary Equity [Line Items]        
Temporary Equity Shares Issued       85,000
Temporary Equity Aggregate Amount Of Redemption Requirement       $ 85,000,000
Temporary Equity Par Or Stated Value Per Share       $ 1,000
Temporary Equity Liquidation Preference Per Share       1,000
Convertible Preferred Stock Settlement Terms     SunOpta Foods may cause the Holders to exchange all of the Preferred Stock into a number of Common Shares based on the applicable Exchange Price if (i) fewer than 10% of the shares of Preferred Stock issued on the Closing Date remain outstanding or (ii) on or after the third anniversary of the Closing Date, the average volume-weighted average price of the Common Shares during the then preceding 20 trading day period is greater than 200% of the Exchange Price. Prior to the receipt of applicable approval by the holders of Common Shares, shares of Preferred Stock were not exchangeable into more than 19.99% of the number of Common Shares outstanding immediately after giving effect to such exchange (the “Beneficial Ownership Exchange Cap”). On May 24, 2017, the holders of Common Shares approved the removal of the Beneficial Ownership Exchange Cap.  
Convertible Preferred Stock Terms Of Conversion     At any time, the Holders may exchange their shares of Preferred Stock, in whole or in part, into the number of shares of common stock of the Company (the “Common Shares”) equal to, per share of Preferred Stock, the quotient of the liquidation preference divided by $7.50 (such price, the “Exchange Price” and such quotient, the “Exchange Rate”). As at July 1, 2017, the aggregate shares of Preferred Stock outstanding were exchangeable into 11,333,333 Common Shares. The Exchange Price is subject to certain anti-dilution adjustments, including a weighted-average adjustment for issuances of Common Shares below the Exchange Price, provided that the Exchange Price may not be lower than $7.00 (subject to adjustment in certain circumstances).  
Preferred Stock Redemption Price Per Share       7.5
Preferred Stock Voting Rights     In connection with the Subscription Agreement, the Company issued Special Shares, Series 1 (the “Special Voting Shares”) to the Investors, which entitle the Investors to one vote per Special Voting Share on all matters submitted to a vote of the holders of Common Shares, together as a single class, subject to certain exceptions. Additional Special Voting Shares will be issued, or existing Special Voting Shares will be redeemed, as necessary to ensure that the aggregate number of Special Voting Shares outstanding is equal to the number of shares of Preferred Stock outstanding from time to time multiplied by the Exchange Rate in effect at such time. As at July 1, 2017, 11,333,333 Special Voting Shares were issued and outstanding, which represented an approximate 11.6% voting interest in the Company. The Special Voting Shares are not transferable and the voting rights associated with the Special Voting Shares will terminate upon the transfer of the Preferred Stock to a third party, other than a controlled affiliate of the Investors. The Investors are entitled to designate up to two nominees for election to the Board of Directors of the Company (the “Board”) and have the right to designate one individual to attend meetings of the Board as a non-voting observer, subject to the Investors maintaining certain levels of beneficial ownership of Common Shares on an as-exchanged basis.  
Preferred Stock Participation Rights     For so long as the Investors beneficially own or control at least 50% of the Preferred Stock issued on the Closing Date, including any corresponding Common Shares into which such Preferred Stock are exchanged, the Investors will be entitled to (i) participation rights with respect to future equity offerings of the Company; and (ii) governance rights, including the right to approve certain actions proposed to be taken by the Company and its subsidiaries.  
Dividends Preferred Stock     $ 1,700,000  
Oaktree Organics Lp And Oaktree Huntington Investment Fund II Lp [Member] | Series A Preferred Stock [Member] | Minimum [Member]        
Temporary Equity [Line Items]        
Preferred Stock Redemption Price Per Share       $ 7