Rogers Sugar Announces a $75 Million Convertible Debenture Offering

Core Viewpoint - Rogers Sugar Inc. announced a public offering of $75,000,000 aggregate principal amount of Eighth Series convertible unsecured subordinated debentures with an annual interest rate of 6.0$1,000 per debenture [1]. - The Offered Debentures will be convertible into common shares at a conversion price of $7.10 per share [2]. - The Offered Debentures will not be redeemable prior to June 30, 2028, and can be redeemed under specific conditions thereafter [2]. Group 2: Underwriters and Over-Allotment - The offering is being conducted through a syndicate of underwriters co-led by TD Securities Inc. and Scotiabank on a bought deal basis [2]. - An Over-Allotment Option allows underwriters to purchase up to an additional$11,250,000 aggregate principal amount of Offered Debentures within 30 days after the closing of the offering [3]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to reduce outstanding amounts under the credit facility of Lantic Inc., a subsidiary of Rogers Sugar, and for general corporate purposes [4]. Group 4: Regulatory and Closing Information - The offering is expected to close on or about February 19, 2025, subject to regulatory and TSX approval [5]. - The Offered Debentures will be offered in each province of Canada pursuant to a prospectus supplement that will be filed by February 12, 2025 [5]. Group 5: Company Overview - Rogers Sugar Inc. is a corporation established under Canadian laws, holding all common shares of Lantic, which has been refining sugar for 135 years [11]. - Lantic operates cane sugar refineries in Montreal and Vancouver, and the only Canadian sugar beet processing facility in Taber, Alberta [11]. - The company markets its sugar products under the "Lantic" and "Rogers" trademarks across Canada and operates a distribution center in Toronto [11].