By Devika Patel
Knoxville, Tenn., Sept. 10 - AgFeed Industries, Inc. said it arranged a $50 million two-year equity line of credit.
The company will sell common shares at a slight discount to the then-current market price, or 95% of the lowest closing bid price during the five trading days following the put notice.
The investors will also receive warrants for 400,000 shares, exercisable at $5.75 for five years.
AgFeed, based in Beijing, produces animal feed.
| Issuer: | AgFeed Industries, Inc.
|
| Issue: | Common shares
|
| Amount: | $50 million
|
| Tenor: | Two years
|
| Price: | 95%
|
| Warrants: | For 400,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.75
|
| Pricing date: | Sept. 10
|
| Stock symbol: | Nasdaq: FEED
|
| Stock price: | $5.15 at close Sept. 9
|
| Market capitalization: | $221 million
|
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