Business
Rogers Sugar Announces a $50 Million Convertible Debenture Offering
BASE SHELF PROSPECTUS IS ACCESSIBLE, AND PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSI...
About this update from Rogers Sugar Inc.
[{"type":"text","content":"Rogers Sugar Announces a $50 Million Convertible Debenture Offering\nBASE SHELF PROSPECTUS IS ACCESSIBLE, AND PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+ NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES MONTREAL, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Rogers Sugar Inc. (the “Company” or “Rogers Sugar”) (TSX: RSI) announced today a public offering (the “Offering”) of $50,000,000 aggregate principal amount of Ninth Series convertible unsecured subordinated debentures (the “Offered Debentures”), at an offering price of $1,000 per Offered Debenture (the “Offering Price”). The Offered Debentures will bear interest at an annual rate of 5.50% per annum, payable semi-annually on the last day of January and July commencing on July 31, 2026. The Offered Debentures will mature on January 31, 2033 (the “Maturity Date”). The Offering is being made through a syndicate of underwriters co-led by BMO Capital Markets and National Bank Capital Markets (collectively, the “Underwriters”) on a bought deal basis. The Offered Debentures will be convertible at the holder’s option into common shares of the Company (the “Debenture Shares”) at any time prior to 5:00 p.m. (Montreal time) on the earlier of the business day immediately preceding the Maturity Date and the business day immediately preceding the date fixed by the Company for redemption of the Offered Debentures, at a conversion price of $7.91 per Debenture Share (the “Conversion Price”). The Offered Debentures will not be redeemable prior to January 31, 2029. On or after January 31, 2029 and prior to January 31, 2031, the Offered Debentures may be redeemed in whole or in part from time to time at the Company’s option, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares in the capital of the Company on the Toronto Stock Exchange (the “TSX”) for the 20 consecutive trading days ending on the fifth trading day preceding the date upon which the notice of redemption is given is at least 125% of the Conversion Price. On or after January 31, 2031 and prior to the Maturity Date, the Offered Debentur...