New York, May 29, 2026, 13:04 (EDT)
- Bloomia Holdings shares were last at $3.86 on Nasdaq, off about 1.7%. Volume was just over 2,200 shares.
- The stock didn’t get back above the $4.05 per share price from the April rights offering.
- Debt is up next. Recent filings pointed to covenant problems and there’s a seller-note payment due May 27.
Shares of Bloomia Holdings dropped in sparse Nasdaq trade Friday, putting the fresh-cut tulip producer under the recent shareholder cash raise price. Investors are watching its debt and waiting for the next word on a seller-note payment.
TULP shares last traded at $3.86, off 6.5 cents from the prior close. The stock opened at $3.85 and market data showed 2,229 shares had changed hands.
Bloomia is still working to get attention in the market after its recent name change. The company switched from Lendway, Inc. to Bloomia on Jan. 28, and shares started trading under the TULP ticker on Feb. 2, its quarterly filing shows.
Broader U.S. stocks traded stronger, with the S&P 500, Dow and Nasdaq all up Friday, AP reported. Tech earnings fueled the S&P 500’s latest rise. Bloomia shares didn’t follow the wider market move.
Bloomia (TULP) reported net revenue of $14.4 million for the March quarter, up from $12.4 million a year ago. But gross margin slipped to 19.8% from 31.3%. The company recorded a net loss of $765,000, or 43 cents per diluted share. Last year, Bloomia had income of $449,000, or 25 cents per share.
The company reported the revenue increase came from higher prices even as stem volumes slipped roughly 3%, blaming weaker Valentine’s Day sales. Some of that was made up by Easter sales moving into March. EBITDA dropped to $909,000, down from $2.58 million in the same period.
Bloomia’s chairman and co-CEO Mark Jundt said “Revenue growth” was a sign of the firm’s market position. He also mentioned “rising raw material costs, tariffs, and a strengthening Euro.” Co-CEO Dan Philp said the company “paid down high interest debt at a 50% discount.”
Bloomia raised $12.1 million in gross proceeds in a balance-sheet fix through a rights offering, giving current holders the option to buy more stock. The total included $5 million in cash and $7.1 million from debt turned into equity. About 3 million shares were issued at $4.05 apiece.
Bloomia put most of its net cash proceeds into a $4.9 million payment on a discounted prepayment under its seller note. The company said in April that any unpaid part of this amount would pick up a 12% interest rate and must be paid by May 27. If not, the remaining bridge loan balance would be reset with a formula using the unpaid portion.
But the seller note isn’t the only risk here. Bloomia said in its filing that its revolving-credit line dropped to $6 million after April 30, but the balance as of the report was about $9.1 million, putting the company out of compliance with its credit agreement. Bloomia also reported breaches of financial covenants at Dec. 31 and March 31, though its lenders issued waivers. The filing added that cash from the rights offering would not be enough on its own to meet the $7.33 million discounted payment on the seller note.
Bloomia sticks to a tight business. The company says it grows and sells fresh-cut tulips, with over 90 million stems in the year to June 30, 2025. Bloomia gets its bulbs from the Netherlands, Chile and New Zealand. So things like currency moves, tariffs and demand in spring matter a lot.
Competition centers on supply chain and retailer deals as much as on direct peers. Bloomia says growing in the U.S. lifts margins compared with flying in finished stems. A handful of U.S. mass retailers have made up over 85% of sales each year.
The next step for the stock is straight—a lower debt load from the rights issue has to start showing up in filings and the numbers. Any sign of relief will have to compete with stubborn bulb prices, tariffs, euro moves and lenders keeping a tight leash on this smaller, thinly traded Nasdaq listing.
