Agritech Firm AgriFORCE Seeks To Raise US$13.6 Million In Its IPO
Agriculture-focused technology company AgriFORCE Growing Systems Ltd. goes public today on the Nasdaq Capital Market. The company is looking to raise US$13.6 million through its initial public offering.
The offering consists of 2,719,999 company units selling at US$5.00 per unit. Each unit is composed of one common share and one Series A warrant to purchase one common share. Each whole warrant can be exercised to purchase one common share at US$6.00 per share within three years from issuance.
The common shares and warrants will both be publicly traded on the Nasdaq big board under symbols “AGIR” and “AGRIW”, respectively.
Benchmark Investments division EF Hutton acts as the offering’s sole underwriter. The bookrunner is also given a 45-day over-allotment option to purchase an additional 407,999 company units at the same offering price, potentially raising the offering proceeds to US$15.6 million.
The offering is expected to close on July 12, 2021, subject to customary closing conditions.
Information for this briefing was found via Sedar and AgriFORCE. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
