Eden Innovations has completed the sale of its Georgia property for US$5 million, using the proceeds to significantly reduce its debt and edge closer to completing its financial reconstruction.
- Georgia property sold for US$5 million, purchased in 2018 for US$1.2 million
- US$4 million of iBorrow loan repaid, reducing that debt by 69%
- Total company debt cut by approximately 70% to AUD$5.2 million
- Share-for-debt conversions repaid AUD$5.5 million to major shareholders
- Financial reconstruction nearing completion amid growth in EdenCrete and OptiBlend sales
Property Sale Marks Major Milestone
Eden Innovations Ltd (ASX, EDE) has successfully completed the sale of its 65.58-acre industrial property located at 1475 Doug Barnard Parkway in Augusta, Georgia. The property, originally purchased in 2018 for US$1.2 million, was sold for US$5 million (approximately AUD$7.6 million), marking a significant gain on the initial investment.
The transaction, finalized on 5 November 2025, follows a conditional sale contract agreed upon in September 2024 and subsequently varied earlier this year. After deducting extension payments, agent commissions, and other charges totaling US$450,000, the net proceeds were strategically allocated to reduce Eden’s debt burden and bolster working capital.
Substantial Debt Reduction Achieved
The net funds from the sale were primarily used to repay US$4 million of Eden’s existing iBorrow loan facility, which originally stood at US$5.8 million. This repayment slashed the loan by 69%, leaving a residual balance of approximately US$1.8 million secured against the company’s two properties in Colorado.
In addition to this, Eden has been actively reducing its overall debt through share-for-debt conversions with major shareholders Arkenstone Pty Ltd and March Bells Pty Ltd. These conversions repaid AUD$5.5 million of loans in August and September 2025, further trimming the company’s total debt from AUD$16.8 million to AUD$5.2 million; a reduction of roughly 70%.
Financial Reconstruction Nears Completion
With the Georgia property sale and debt repayments, Eden’s financial reconstruction is approaching its final stages. The company’s balance sheet is now considerably strengthened, positioning it for a more stable and promising future. The recent share consolidation complements this improved financial footing.
Looking ahead, Eden is optimistic about growth prospects driven by its EdenCrete® admixtures and OptiBlend dual fuel system. These product lines have shown emerging sales momentum, which could further enhance the company’s operational performance and financial health.
Next Steps and Outlook
Eden also flagged an upcoming update on the sale of its Mead property in Colorado, which was independently appraised at US$2.5 million in October 2023. Proceeds from this sale are expected to enable Eden to repay the remaining balance of the iBorrow loan, potentially eliminating that debt entirely.
Executive Chairman Gregory H. Solomon expressed confidence in the company’s trajectory, highlighting the significant progress made in debt reduction and the promising outlook for its core product offerings.
Bottom Line?
Eden’s decisive debt reduction and asset sales set the stage for a stronger financial future, but the timing and impact of the Mead property sale remain key to watch.
Questions in the middle?
- When will the Mead property sale be completed and how much will it realise?
- Can Eden fully repay the residual iBorrow loan with upcoming asset sales?
- How will the improved balance sheet translate into growth for EdenCrete and OptiBlend sales?