Business
SunOpta Announces Completion of US$53.8 Million Offering
SunOpta Announces Completion of US$53.8 Million Offering.
About this update from Sunopta Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, February 13 /CNW/ - SunOpta Inc. (SunOpta) (Nasdaq:STKL)\n(TSX:SOY) announced today that it has completed its previously announced\npublic offering of common shares. As the underwriters of the offering\nexercised their over-allotment option in full upon closing, a total of\n5,175,000 common shares were issued to the public at a price of US$10.40 per\nshare for aggregate gross proceeds of approximately US$53.8 million. The\noffering was completed on an underwritten basis through a syndicate of\nunderwriters led by Canaccord Adams Inc. in the United States and Canaccord\nCapital Corporation in Canada and including, in Canada, BMO Nesbitt Burns\nInc., National Bank Financial Inc., Desjardins Securities Inc. and Octagon\nCapital Corporation.\n\n\nThe net proceeds of the offering are expected to be used to repay\noutstanding indebtedness and for general corporate purposes, including future\nacquisitions, internal expansion projects and working capital requirements.\n\n\n\"We are very pleased with the support we have received from both our\nexisting shareholders and new investors\" remarked Steve Bromley, President and\nChief Executive Officer. \"The offering was oversubscribed and sold to a broad\nrange of institutional and retail investors in the United States, Canada and\nEurope\".\n\n\nIn welcoming SunOpta's new shareholders, Jeremy Kendall, Chairman of\nSunOpta, added \"With the proceeds of the offering, we believe SunOpta is\nwell-positioned for continued growth over the next few years.\"\n\n\nThis news release does not constitute an offer to sell or a solicitation\nof an offer to buy nor shall there be any sale of these securities in any\nstate, province or jurisdiction in which such offer, solicitation or sale\nwould be unlawful prior to the registration or qualification under securities\nlaws of such state, province or jurisdiction. An offering may only be made in\nthe provinces of British Columbia, Alberta, Manitoba and Ontario by means of a\nprospectus and in the United States only by means of a prospectus and the\nrelated prospectus supplement.\n\n\nAbout SunOpta Inc.\n\n\nSunOpta Inc. is an operator of high-growth ethical businesses, focusing\non integrated business models in the natural and organic food, supplements and\nhealth and beauty markets. The Company has three business units: the SunOpta\nFood G...