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Bioceres Crop Solutions Corp. Announces Offer to Exchange Its Outstanding Warrants
ROSARIO, Argentina--(BUSINESS WIRE)-- Bioceres Crop Solutions Corp. (“BIOX” or the “Company”) (NYSE American:BIOX), a fully-integrated provider of crop
About this update from Bioceres Crop Solutions Corp.
[{"type":"text","content":" ROSARIO, Argentina--(BUSINESS WIRE)--\nBioceres Crop Solutions Corp. (“BIOX” or the “Company”) (NYSE American:BIOX), a fully-integrated provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, today announced that it intends to commence an offer to exchange any and all of its 24,200,000 outstanding warrants (the “Warrants”), each to purchase one of BIOX’s ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), for either 0.12 Ordinary Shares or $0.45 in cash per Warrant, without interest (the “Offer”).\n\n\nThe Offer is being made to all holders of Warrants and a holder may tender as few or as many Warrants as the holder elects. The purpose of the Offer is to reduce the number of Warrants outstanding, and shortly thereafter eliminate BIOX’s Warrants altogether, in order to provide greater clarity to investors and potential investors regarding the number of Ordinary Shares that are, and that may become, outstanding.\n\n\nThe Offer is not conditioned on the receipt of financing. The Offer is subject to the condition that at least 12,100,001 of the outstanding Warrants are tendered in the Offer, such that BIOX will hold no less than a majority of all of the outstanding Warrants upon completion of the Offer. As of July 27, 2020, BIOX has 24,200,000 outstanding Warrants to purchase its Ordinary Shares. The number of Warrants that BIOX is offering to exchange represents all of its outstanding Warrants. BIOX’s public Warrants are currently listed on the New York Stock Exchange under the symbol “BIOX-WS” while the Ordinary Shares are listed under the symbol “BIOX.”\n\n\nPursuant to a Tender and Lock-Up Agreement, dated as of July 27, 2020, between BIOX and Bioceres LLC, the controlling shareholder of BIOX, Bioceres LLC has agreed to tender the 7,500,000 Warrants it owns, comprising approximately 30.99% of BIOX’s outstanding Warrants, in the Offer. In addition, pursuant to a Tender Agreement, dated as of July 27, 2020, among BIOX, Union Acquisition Associates, LLC and Union Group International Holdings Limited (each being affiliates of BIOX’s predecessor), Union Acquisition Associates, LLC and Union Group International Holdings Limited have agreed to tender the 4,190,000 Warrants that they collectively own, constituting approximately 17.3% of the outstanding Warran...