THE WOODLANDS, Texas,
Dec. 11, 2019 /PRNewswire/ – RiceBran
Technologies (Nasdaq: RIBT), a global leader in the production and
marketing of value-added products derived from rice bran and a
producer of rice, rice co-products, and barley and oat products,
announced today that it intends to offer and sell shares of its
common stock in an underwritten registered public offering.
In addition, the company intends to grant the underwriter a 30-day
option to purchase up to an additional 15% of the shares of its
common stock sold in the offering to cover over-allotments, if any.
All shares of common stock to be sold in the proposed offering will
be sold by the company. The proposed offering is subject to market
and other conditions, and there can be no assurance as to whether
or when the offering may be completed, or as to the actual size or
terms of the offering.
The company intends to use the net proceeds from the proposed
offering, if completed, for working capital and general corporate
purposes.
Lake Street Capital Markets, LLC is acting as the sole
book-running manager for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-232447) that was
declared effective by the U.S. Securities and Exchange Commission,
or the SEC, on July 11, 2019. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the proposed offering have
been filed with the SEC and may be obtained by visiting the SEC's
website at www.sec.gov or by contacting Lake Street Capital
Markets, LLC, Attention: Syndicate Department, 920 Second Avenue
South, Suite 700, Minneapolis, MN
55402, by telephone at 612-326-1305, or by email at
syndicate@lakestreetcm.com. The final terms of the proposed
offering will be disclosed in a final prospectus supplement to be
filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other 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
other jurisdiction.
About RiceBran Technologies
RiceBran Technologies is a specialty ingredient company
servicing the food, animal nutrition and specialty products
markets. We utilize our proprietary processes to convert rice bran,
one of the world's most underutilized food source, into a number of
highly nutritious and clean label ingredient products. The global
target markets for our products include food and animal nutrition
manufacturers and retailers, as well as specialty food, functional
food and nutritional supplement manufacturers and retailers. More
information can be found in our filings with the SEC and by
visiting our website.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These include statements regarding, but not limited
to, the company's intention to the offer the securities and the
expected uses of the proceeds from the proposed offering.
Forward-looking statements can be identified by the use of words
such as "may," "will," "plan," "should," "expect," "anticipate,"
"estimate," "continue" or comparable terminology. Forward-looking
statements involve risks and uncertainties that could cause actual
results or developments to differ materially from those indicated
due to a number of factors affecting the company's operations,
markets, products and services. The company identifies the
principal risks and uncertainties that impact its performance in
its public reports filed with the SEC, including the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition"
sections of the company's most recent Annual Report on Form 10-K,
as may be supplemented or amended by the company's subsequent
Quarterly Reports on Form 10-Q. Forward-looking statements
speak only as of the date on which they are made and the company
assumes no obligation to update any forward-looking statements.
Investor Relations Contact
Ascendant Partners, LLC
Richard Galterio
Telephone: +1-732-410-9810
Email: rich@ascendantpartnersllc.com
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SOURCE RiceBran Technologies