Business
Village Farms International Announces US$135 Million Registered Direct Offering
VANCOUVER, BC, Jan. 15, 2021 /PRNewswire/ - Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF), announced today
About this update from Village Farms International, Inc.
[{"type":"text","content":"VANCOUVER, BC, Jan. 15, 2021 /PRNewswire/ - Village Farms International, Inc. (\"Village Farms\" or the \"Company\") (NASDAQ: VFF) (TSX: VFF), announced today that it has entered into definitive agreements with certain institutional investors for the purchase and sale of an aggregate of 10,887,097 common shares in a registered direct offering, for expected gross proceeds of approximately US$135 million (approximately CAD$171 million) before placement agent fees and other offering expenses payable by Village Farms. Each share is being sold at a public offering price of US$12.40 (approximately CAD$15.70) per share. \nThe closing of the offering is subject to customary closing conditions, including applicable stock exchange approvals, and is expected to close on or about January 20, 2021. The net proceeds from this offering are intended to be used for general working capital purposes. \nA.G.P./Alliance Global Partners and Raymond James (USA) Ltd. are acting as co-lead placement agents and Roth Capital Partners is acting as co-placement agent for the offering. Beacon Securities Limited is acting as financial advisor for the offering.\nThe securities described above are being offered by Village Farms pursuant to a registration statement on Form S-3 (File No. 333-237792) that was declared effective by the Securities and Exchange Commission (\"SEC\") on May 6, 2020. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at 212-624-2006 or email: [email protected], or Raymond James (USA) Ltd.: 5300 – 40 King Street West, Scotia Plaza, P.O. Box 415, Toronto, Ontario, M5H 3Y2, email: [email protected].\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Village Farms International, Inc.\nVillage Farms is on...