By Devika Patel
Knoxville, Tenn., Dec. 29 - AgFeed Industries, Inc. priced a direct offering of units for $8.75 million.
The company will sell units at $1.75 apiece. The units each consist of one common share and one warrant for 0.7 common shares, with each whole warrant exercisable at $2.50 for five years.
Rodman & Renshaw, LLC is the agent.
AgFeed, based in Beijing, produces animal feed.
| Issuer: | AgFeed Industries, Inc.
|
| Issue: | Units of one common share and one warrant for 0.7 shares
|
| Amount: | $8.75 million
|
| Price: | $1.75
|
| Warrants: | One warrant for 0.7 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Dec. 29
|
| Stock symbol: | Nasdaq: FEED
|
| Stock price: | $1.52 at close Dec. 29
|
| Market capitalization: | $50.1 million
|
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