Limoneira plans public offering to issue 1.8 million common shares

Bookrunner Janney Montgomery has 30-day greenshoe for 270,000 shares

By Susanna Moon

Chicago, Feb. 4 - Limoneira Co. said it plans a public offering to sell 1.8 million of common stock with a 30-day over-allotment option for an additional 270,000 shares.

Janney Montgomery Scott LLC is the bookrunner, with Roth Capital Partners, LLC as co-lead manager. Feltl and Co. Inc. is the co-manager.

Proceeds will be used for general corporate purposes, which may include repayment of debt, real estate development and agricultural acquisitions.

The company's stock (Nasdaq: LMNR) closed at $21.94 on Feb. 1.

Limoneira is an agriculture and real estate development company based in Santa Paula, Calif.

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