Above Food secures $20 million investment from Aqua 1 Foundation

REGINA - Above Food Ingredients Inc. (NASDAQ:ABVE), a $95.22 million market cap company currently trading at $2.03, announced Thursday it has closed a $20 million convertible note financing round with Aqua 1 Foundation, a Web3 and decentralized finance investor. According to InvestingPro data, the company operates with significant debt obligations and faces challenges in meeting interest payments.

The investment, which converts at $2.50 per share, will support Above Food’s scaling and growth strategy, according to a company press release. The financing comes as the company’s stock has shown remarkable momentum, with a 446.99% return over the past six months and a 248.15% gain year-to-date, as tracked by InvestingPro. Aqua 1 Foundation, which in June 2025 became the largest investor in World Liberty Financial following a $100 million investment in the platform founded by Donald J. Trump and family, will also provide technological support.

As part of the agreement, Aqua 1’s Abu Dhabi entity, Aqua Labs Investment, will integrate its blockchain, Web3 tokenization, and stablecoin technologies into Above Food’s ecosystem as an exclusive technology partner.

Peter Knez, Chairman and CEO of Above Food, described the investment as "a defining inflection point" in the company’s development, noting it provides both capital and digital infrastructure.

Dave Lee, Founding Partner and CEO of Aqua 1 Foundation, said the partnership aligns with his organization’s mission to "democratize access to blockchain-powered ecosystems."

Above Food Ingredients describes itself as an agricultural and food technology company that delivers sustainably produced proprietary functional ingredients to businesses and consumers globally. The company utilizes artificial intelligence-driven genomics and agronomy in its operations.

The press release did not specify when the convertible notes might mature or provide details on other terms of the financing arrangement.

In other recent news, Above Food Ingredients Inc. has announced a significant merger with Palm Global Technologies Ltd., bringing a 30% stake in the Palm Promax Investments joint venture to its balance sheet. This merger is set to add a portion of Palm Promax’s $350 billion valuation in U.S.-situated gold-based assets, marking a transformative step for the company. The merger has been unanimously approved by both companies’ boards, further solidifying its strategic importance. Concurrently, Above Food has appointed CBIZ CPA as its new independent auditor to ensure timely completion of its overdue annual report, aiming to regain Nasdaq compliance within four to six weeks.

The company has also recently achieved full compliance with Nasdaq listing requirements, meeting all necessary criteria under specific listing rules. This compliance was confirmed through an official determination letter from Nasdaq. The developments come as Above Food continues to advance its ambitions in asset tokenization and stablecoin markets, areas relevant to its merger with Palm Global. These recent changes position Above Food for potential growth and strategic advancements in the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.