TORONTO — SunOpta Inc., a global organic food company specializing in sourcing, processing and packaging of natural and certified organic food products, announced the pricing of a $100,020,000 underwritten public offering consisting of 16,670,000 common shares at a public offering price of $6 per share.
According to SunOpta, the underwriters of the offering have the option to purchase up to an additional $15 million, or 2,500,500 common shares, for a period of 30 days following the pricing of the offering. The offering is scheduled to close on Sept. 30, 2015, subject to customary closing conditions.
SunOpta said it will use the net proceeds of the offering to fund a portion of the purchase price of the acquisition of Sunrise Holdings, which it agreed to acquire from an investor group led by affiliates of Paine & Partners L.L.C. in late July. If the Sunrise acquisition is not completed, SunOpta said it will use the net proceeds for general corporate purposes.