Ag Growth greenshoe lifts 5% convertibles due 2027 to C$115 million

By Rebecca Melvin

Concord, N.H., Nov. 9 – Underwriters for Ag Growth International Inc.’s 5% convertible subordinated debentures due June 30, 2027 fully exercised their C$15 million greenshoe, increasing the total size of the deal to C$115 million, according to a company press release.

The company priced C$100 million of the convertible debentures on Oct. 14 at par. They carry a conversion price of C$45.14 and a conversion ratio of 22.1533.

The convertibles were marketed via short form prospectus in each province of Canada with the exception of Quebec and are non-callable until June 30, 2025 and then subject to a 125% hurdle.

The debentures are listed for trading on the Toronto Stock Exchange under the symbol “AFN.DB.I.”

Ag Growth is a Winnipeg, Man.-based equipment and technology company supporting global food infrastructures.

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