By Sheri Kasprzak
New York, Feb. 16 - NutraCea said it plans to close a $50 million private placement of stock with a group of institutional and accredited investors.
The investors agreed to buy 20 million shares in the deal.
The investors also will receive warrants for 10 million shares, exercisable at $3.25 each for five years.
Rodman & Renshaw, LLC is the placement agent.
Based in El Dorado Hills, Calif., NutraCea researches and produces stabilized rice bran and derivatives.
| Issuer: | NutraCea
|
| Issue: | Stock
|
| Amount: | $50 million
|
| Shares: | 20 million
|
| Price: | $2.50
|
| Warrants: | For 10 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.25
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | Feb. 16
|
| Stock symbol: | NTRZ
|
| Stock price: | $3.10 at close Feb. 15
|
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