By Devika Patel
Knoxville, Tenn., Oct. 2 - Cosan Ltd. arranged a $180 million private placement of shares, according to a 6-K filed Thursday with the Securities and Exchange Commission.
The company will sell 22,784,810 class A common shares at $7.90 per share to the Gávea Funds and Rubens Ometto Silveira Mello. The funds will buy $130 million of the shares and Mello will buy $50 million of the securities.
Proceeds will be used to strengthen the capital structure of the Cosan Group to support its growth, including for possible future acquisitions and other general corporate purposes.
Cosan is a global ethanol and sugar company based in Sao Paulo, Brazil.
| Issuer: | Cosan Ltd.
|
| Issue: | Class A common stock
|
| Amount: | $180 million
|
| Shares: | 22,784,810
|
| Price: | $7.90
|
| Warrants: | No
|
| Investor: | Gávea Funds (for $130 million) and Rubens Ometto Silveira Mello (for $50 million)
|
| Pricing date: | Oct. 2
|
| Stock symbol: | NYSE: CZZ
|
| Stock price: | $8.32 at close Oct. 1
|
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