Alico Announces Pay Off of Farm Credit of Florida Mortgage Note Totaling $1.8 Million - Alico (NASDAQ:ALCO)

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

Alico (NASDAQ: ALCO), an agriculture and rural land management company, announced that it has paid off an outstanding mortgage note with an interest rate of 6.68% with Farm Credit of Florida totaling $1.8 million. The mortgage was collateralized by 7,680 acres of real estate used for farm leases, sugarcane and citrus production. Documents evidencing satisfaction of the mortgage and release of collateral are in process and will be recorded upon completion.With the payoff of Farm Credit of Florida mortgage note, Alico reduced its term debt to $37.5 million bearing interest at 2.71% and currently maintains an unused line of credit of $60 million bearing interest of 2.47%.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!