| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. 230.425) | |||||
| Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14D-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c)) | |||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Emerging growth company | |||||
(d) Exhibits. | |||||
| Exhibit No. | Description | ||||
| 99.1 | |||||
Date: April 23, 2025 | ALICO, INC. | |||||||
| By: | /s/ Bradley Heine | |||||||
| Bradley Heine | ||||||||
| Chief Financial Officer | ||||||||
| Historical (A) | Transaction Accounting Adjustments | Total Pro Forma | ||||||||||||||||||
| ASSETS | ||||||||||||||||||||
| Current assets: | ||||||||||||||||||||
| Cash and cash equivalents | $ | 4,388 | $ | 4,388 | ||||||||||||||||
| Accounts receivable, net | 8,602 | (4,603) | B | 3,999 | ||||||||||||||||
| Inventories | 20,814 | (16,262) | C | 4,552 | ||||||||||||||||
| Income tax receivable | 1,958 | 1,958 | ||||||||||||||||||
| Assets held for sale | 3,345 | 3,345 | ||||||||||||||||||
| Prepaid expenses and other current assets | 1,711 | 1,711 | ||||||||||||||||||
| Total current assets | 40,818 | (20,865) | 19,953 | |||||||||||||||||
| Restricted cash | 762 | 762 | ||||||||||||||||||
| Property and equipment, net | 350,907 | (211,926) | D | 138,981 | ||||||||||||||||
| Goodwill | 2,246 | 2,246 | ||||||||||||||||||
| Deferred tax assets | — | 13,285 | E | 13,285 | ||||||||||||||||
| Other non-current assets | 2,863 | (591) | F | 2,272 | ||||||||||||||||
| Total assets | $ | 397,596 | $ | (220,097) | $ | 177,499 | ||||||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
| Current liabilities: | ||||||||||||||||||||
| Accounts payable | $ | 3,236 | $ | (2,147) | G | $ | 1,089 | |||||||||||||
| Accrued liabilities | 3,293 | (207) | H | 3,086 | ||||||||||||||||
| Current portion of long-term debt | 1,410 | 1,410 | ||||||||||||||||||
| Other current liabilities | 498 | 498 | ||||||||||||||||||
| Total current liabilities | 8,437 | (2,354) | 6,083 | |||||||||||||||||
| Long-term debt, net | 81,984 | 81,984 | ||||||||||||||||||
| Lines of credit | 21,494 | (19,967) | H | 1,527 | ||||||||||||||||
| Deferred income tax liabilities, net | 38,694 | (38,694) | E | — | ||||||||||||||||
| Other liabilities | 146 | 146 | ||||||||||||||||||
| Total liabilities | 150,755 | (61,015) | 89,740 | |||||||||||||||||
| Commitments and Contingencies - Note 12. | ||||||||||||||||||||
| Stockholders’ equity: | ||||||||||||||||||||
Preferred stock, no par value, 1,000,000 shares authorized; none issued | — | — | ||||||||||||||||||
Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 shares issued and 7,633,069 and 7,628,639 shares outstanding at December 31, 2024 and September 30, 2024, respectively | 8,416 | 8,416 | ||||||||||||||||||
| Additional paid in capital | 20,226 | 20,226 | ||||||||||||||||||
Treasury stock, at cost, 783,076 and 787,506 shares held at December 31, 2024 and September 30, 2024, respectively | (26,557) | (26,557) | ||||||||||||||||||
| Retained earnings | 239,704 | (159,082) | 80,622 | |||||||||||||||||
| Total Alico stockholders’ equity | 241,789 | (159,082) | 82,707 | |||||||||||||||||
| Noncontrolling interest | 5,052 | 5,052 | ||||||||||||||||||
| Total stockholders’ equity | 246,841 | (159,082) | 87,759 | |||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 397,596 | $ | (220,097) | $ | 177,499 | ||||||||||||||
Historical (A) | Transaction Accounting Adjustments | Total Pro Forma | ||||||||||||||||||
| 2024 | ||||||||||||||||||||
| Operating revenues: | ||||||||||||||||||||
| Alico Citrus | $ | 16,326 | $ | (11,344) | B | $ | 4,982 | |||||||||||||
| Land Management and Other Operations | 568 | 568 | ||||||||||||||||||
| Total operating revenues | 16,894 | (11,344) | 5,550 | |||||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Alico Citrus | 25,111 | (17,167) | C | 7,944 | ||||||||||||||||
| Land Management and Other Operations | 21 | 21 | ||||||||||||||||||
| Total operating expenses | 25,132 | (17,167) | 7,965 | |||||||||||||||||
| Gross loss | (8,238) | 5,823 | (2,415) | |||||||||||||||||
| General and administrative expenses | 2,586 | (24) | D | 2,562 | ||||||||||||||||
| Loss from operations | (10,824) | 5,847 | (4,977) | |||||||||||||||||
| Other (expense) income, net: | ||||||||||||||||||||
| Interest income | 47 | 47 | ||||||||||||||||||
| Interest expense | (898) | 271 | E | (627) | ||||||||||||||||
| Other income, net | 244 | 244 | ||||||||||||||||||
| Total other (expense) income, net | (607) | 271 | (336) | |||||||||||||||||
| (Loss) income before income taxes | (11,431) | 6,118 | (5,313) | |||||||||||||||||
| Income tax (benefit) provision | (2,180) | 1,621 | F | (559) | ||||||||||||||||
| Net (loss) income | (9,251) | 4,497 | (4,754) | |||||||||||||||||
| Net loss attributable to noncontrolling interests | 84 | 84 | ||||||||||||||||||
| Net (loss) income attributable to Alico, Inc. common stockholders | $ | (9,167) | $ | 4,497 | $ | (4,670) | ||||||||||||||
| Per share information attributable to Alico, Inc. common stockholders: | ||||||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||
| Basic | $ | (1.20) | $ | 0.59 | $ | (0.61) | ||||||||||||||
| Diluted | $ | (1.20) | $ | 0.59 | $ | (0.61) | ||||||||||||||
| Weighted-average number of common shares outstanding: | ||||||||||||||||||||
| Basic | 7,633 | 7,633 | ||||||||||||||||||
| Diluted | 7,633 | 7,633 | ||||||||||||||||||
Historical (A) | Transaction Accounting Adjustments | Total Pro Forma | ||||||||||||||||||
| 2024 | ||||||||||||||||||||
| Operating revenues: | ||||||||||||||||||||
| Alico Citrus | $ | 45,059 | $ | (33,501) | B | $ | 11,558 | |||||||||||||
| Land Management and Other Operations | 1,584 | 1,584 | ||||||||||||||||||
| Total operating revenues | 46,643 | (33,501) | 13,142 | |||||||||||||||||
| Operating expenses: | — | |||||||||||||||||||
| Alico Citrus | 102,628 | (83,961) | C | 18,667 | ||||||||||||||||
| Land Management and Other Operations | 398 | 398 | ||||||||||||||||||
| Total operating expenses | 103,026 | (83,961) | 19,065 | |||||||||||||||||
| Gross (loss) profit | (56,383) | 50,460 | (5,923) | |||||||||||||||||
| General and administrative expenses | 11,071 | (40) | D | 11,031 | ||||||||||||||||
| Loss from operations | (67,454) | 50,500 | (16,954) | |||||||||||||||||
| Other income (expense), net: | — | |||||||||||||||||||
| Interest income | 385 | 385 | ||||||||||||||||||
| Interest expense | (3,538) | 535 | E | (3,003) | ||||||||||||||||
| Gain on sale of property & equipment | 81,559 | 81,559 | ||||||||||||||||||
| Total other income, net | 78,406 | 535 | 78,941 | |||||||||||||||||
| Income before income taxes | 10,952 | 51,035 | 61,987 | |||||||||||||||||
| Income tax provision | 4,597 | 13,524 | F | 18,121 | ||||||||||||||||
| Net income | 6,355 | 37,511 | 43,866 | |||||||||||||||||
| Net loss attributable to noncontrolling interests | 618 | 618 | ||||||||||||||||||
| Net income attributable to Alico, Inc. common stockholders | $ | 6,973 | $ | 37,511 | $ | 44,484 | ||||||||||||||
| Per share information attributable to Alico, Inc. common stockholders: | ||||||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||
| Basic | $ | 0.91 | $ | 4.93 | $ | 5.84 | ||||||||||||||
| Diluted | $ | 0.91 | $ | 4.93 | $ | 5.84 | ||||||||||||||
| Weighted-average number of common shares outstanding: | ||||||||||||||||||||
| Basic | 7,622 | 7,622 | ||||||||||||||||||
| Diluted | 7,622 | 7,622 | ||||||||||||||||||
Cover Page |
Apr. 21, 2025 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Apr. 21, 2025 |
| Entity Registrant Name | ALICO, INC. |
| Entity Incorporation, State or Country Code | FL |
| Entity File Number | 0-261 |
| Entity Tax Identification Number | 59-0906081 |
| Entity Address, Address Line One | 10070 Daniels Interstate Court |
| Entity Address, Address Line Two | Suite 200 |
| Entity Address, City or Town | Fort Myers |
| Entity Address, State or Province | FL |
| Entity Address, Postal Zip Code | 33913 |
| City Area Code | 239 |
| Local Phone Number | 226-2000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock |
| Trading Symbol | ALCO |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
| Amendment Flag | false |
| Entity Central Index Key | 0000003545 |
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