RiceBran Technologies (Nasdaq: RIBT) 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.