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"Fundamentally, there is still a strong demand," McQuade said.

"First, I predict a surge of EB-5 petition filings until November 21, when the price increase to 0,000 takes effect. After that, I expect a sharp decline in EB-5 petitions, as fewer people will be able to satisfy the new minimum investment amount."

"Following outbreaks of African swine fever in August, we have intensified surveillance of the operation of the pork market and taken measures in response to ensure supply," he said. "As a whole, the impact on pork production was limited."

"Funding from the government has to go through more procedures and it has to be very cautious because it uses taxpayers' money. We are quicker and more flexible," he said.

"Given the substantial production plan reduction, Spirit could breach the financial covenants under its credit agreement in the fourth quarter of 2020 without an amendment or waiver," the company said in the SEC filing.