Business Context and Reporting Period
Company: Limoneira Company
Filing Type: Form 8-K (Current Report)
Report Date: April 2, 2014
Event Date: March 31, 2014
Context: The filing reports the entry into a material definitive agreement regarding the company's credit facilities.
Key Financial Metrics
This filing does not provide specific numerical values for revenue, profit, cash flow, margins, or total debt levels. The report focuses exclusively on the restructuring of collateral for an existing line of credit.
Material Changes
On March 31, 2014, Limoneira Company and Rabobank, N.A. entered into a Third Amendment to their Amended and Restated Line of Credit Agreement (effective March 19, 2014). The material changes involve the following adjustments to security interests:
- Release of Collateral: The Lender's security interest in Teague McKevett Ranch (Ventura County, CA) was released.
- New Collateral Added: The Lender was granted a security interest in the following properties:
- San Cayeteno Ranch (Ventura County, CA)
- Martinez Ranch, Chambers, and Bar W Ranch (Tulare County, CA)
- Lemons 400 property (Tulare County, CA)
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed beyond the standard disclosure that the description of the Amendment is qualified by reference to the full agreement attached as Exhibit 10.1.
Investor Verification Checklist
- Review Exhibit 10.1 (Third Amendment to Amended and Restated Line of Credit Agreement) for complete terms and conditions.
- Verify the impact of the collateral swap on the company's overall leverage and liquidity position.
- Confirm the status of the Teague McKevett Ranch following the release of the security interest.
- Check subsequent filings for any financial impact resulting from this amendment.