Short answer
Limoneira CO (LMNR) filed an 8-K current report with the SEC on April 15, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). 50/50 Agromin-Limoneira joint venture for organics recycling facility in Ventura County, targeted operational by fiscal 2027 second half.
Limoneira CO 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- 50/50 Agromin-Limoneira joint venture for organics recycling facility in Ventura County, targeted operational by fiscal 2027 second half
- Limoneira contributing land, pre-formation costs and interim financing, creating capital exposure before facility launch
- NewCo revolving credit up to $5 million at SOFR plus 3.50%, maturing in 18 months and secured by NewCo assets
- Additional senior debt up to $23 million permitted, subordinating Limoneira’s facility loan and increasing financing risk
- 70-acre, 50-year land and water lease generates initial quarterly rent of $140,000 plus annual escalations when operations begin
Item 8.01 · Other Events
- NewCo formed to advance Limoneira’s joint venture and Facility construction
- Joint venture structure signals progression from planning toward project execution
- Exhibit 99.1 contains the substantive terms and expected investor impact
Item EX-99.1 · Exhibit EX-99.1
- 50%/50% Agromin joint venture completed, advancing Limoneira’s diversification beyond produce
- 70-acre Ventura County composting center targeting approximately 295,000 annual tons of organic waste
- Operations expected in second half of fiscal 2027, with EBITDA shared equally between partners
- Limoneira expected to receive approximately $560,000 annual rent plus 89 acre-feet of annual water supply
- Exclusive county permitting and projected diversion of approximately 75% of Ventura County’s landfilled organic waste create strategic barriers
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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