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Rogers Sugar Closes $117.9 Million Equity Offerings to Fund a Portion of its Sugar Capacity Expansion Project
Rogers Sugar Closes $117.9 Million Equity Offerings to Fund a Portion of its Sugar Capacity Expan...
About this update from Rogers Sugar Inc.
[{"type":"text","content":"\n \n \n \n Rogers Sugar Closes $117.9 Million Equity Offerings to Fund a Portion of its Sugar Capacity Expansion Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n \n \n \n MONTREAL\n \n \n ,\n \n \n March 4, 2024\n \n \n /CNW/ -\n \n Rogers Sugar Inc.\n \n (the \"\n \n Company\n \n \" or \"\n \n Rogers Sugar\n \n \") (TSX: RSI) is pleased to announce that is has completed today its previously announced\n \n $57.5 million\n \n bought deal public offering (the \"\n \n Public Offering\n \n \") of common shares (the \"\n \n Common Shares\n \n \"), after giving effect to the exercise in full by the Underwriters of the Over-Allotment Option (as defined below), and\n \n $60.4 million\n \n concurrent non-brokered private placements, for aggregate gross proceeds to the Company of approximately\n \n $117.9 million\n \n .\n \n \n Rogers Sugar issued 11,109,000 Common Shares (after giving effect to the exercise in full of the Over-Allotment Option) at a price of\n \n $5.18\n \n per Common Share (the \"\n \n Offering Price\n \n \"), on a bought-deal public offering basis, for gross proceeds of approximately\n \n $57.5 million\n \n , through a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \") co-led by BMO Capital Markets and National Bank Financial Inc. The Company had granted the Underwriters an option to purchase up to an additional 15% of the Common Shares, on the same terms, which the Underwriters exercised on\n \n February 29, 2024\n \n , to cover over-allotments and for market stabilization purposes (the \"\n \n Over-Allotment Option\n \n \").\n \n \n Concurrently with the closing of the Public Offering, the Company has completed private placements with Fonds de solidarité des travailleurs du Québec (F.T.Q.) (\"\n \n FSTQ\n \n \"), the largest development capital investment network in Québec, and Belkorp Industries Inc. (\"\n \n Belkorp\n \n \"), a longti...