Limoneira readies for Wall St.
Santa Paula-based Limoneira is ready to put a sour year behind it as it gears up to become a fully publicly traded company in the coming months.
In med-February, the citrus and avocado giant filed papers with the Securities and Exchange Commission to begin trading its shares on the Nasdaq stock exchange. The move to Wall Street comes after more than a century of essentially being a family-run company.
Trading on the Nasdaq will mean higher costs and closer scrutiny under Sarbanes-Oxley rules, but opening itself up to Wall Street investors will also allow Limoneira to tap previously unreachable equity. Shares of the firm will likely begin trading on the Nasdaq under the LMNR symbol sometime around mid-May, Chief Executive Officer Harold Edwards said at the company's annual shareholders meeting March 23.
