RiceBran Technologies (RIBT) has released an update to notify the public and investors about an entry into a material definitive agreement.
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On January 25, 2024, RiceBran Technologies and its subsidiary, Golden Ridge Rice Mills, Inc., sold assets related to their white rice and stabilized rice bran production facility in Wynne, Arkansas, to Ridgefield Rice, LLC for approximately $2.15 million in cash. The sale includes all relevant tangible and intangible assets and the assumption of certain liabilities by the buyer. The assets were sold “as-is”, with standard representations, warranties, and covenants included in the agreement. The agreement also includes indemnifications for losses and stipulates the termination and potential rehiring of employees associated with the sold business.
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For a comprehensive understanding of the announcement, you can read the full document here.
