By Devika Patel
Knoxville, Tenn., April 25 - NutraCea said it has arranged a $20 million offering of units of stock and warrants. The offering is being made via an April 8 S-3 shelf registration with the Securities and Exchange Commission.
The company will sell up to 22,222,223 units of common shares at $0.90 per share.
Investors also will receive five-year warrants for up to 6,666,666 common shares exercisable at $1.20. The securities are being sold together as units, with one share and 0.3 warrant per unit.
Rodman & Renshaw, LLC is the agent.
Proceeds will be used for general corporate purposes, for working capital and operational purposes and future acquisitions and strategic investments. Settlement is expected on April 30.
Based in El Dorado Hills, Calif., NutraCea researches and produces stabilized rice bran and derivatives.
| Issuer: | NutraCea
|
| Issue: | Units of one share and 0.3 warrant
|
| Amount: | $20 million
|
| Units: | 22,222,223
|
| Price: | $0.90
|
| Warrants: | 0.3 warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.20
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Stock symbol: | OTCBB: NTRZ
|
| Stock price: | $1.13 at close April 24
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
