Rogers Sugar Announces Upsizing of Previously Announced Convertible Debenture Offering to $100 Million

Core Viewpoint - Rogers Sugar Inc. has announced an increase in its bought deal public offering to $100,000,000 of Eighth Series convertible unsecured subordinated debentures, with an annual interest rate of 6.0$1,000 per debenture, with interest payable semi-annually starting June 30, 2025 [1]. - The Offered Debentures are convertible into common shares at a conversion price of $7.10 per share, with conversion options available until the day before maturity or redemption [2]. - The Company has granted an Over-Allotment Option to underwriters to purchase an additional$15,000,000 of Offered Debentures, potentially increasing total gross proceeds to $115,000,000 if fully exercised [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to reduce outstanding amounts under the credit facility of Lantic Inc., a subsidiary of Rogers Sugar, and for general corporate purposes [4]. Group 3: Regulatory and Closing Information - The offering is expected to close around February 19, 2025, subject to regulatory and TSX approval [5]. - The Offered Debentures will be offered in Canada, with a prospectus supplement to be filed by February 12, 2025 [5]. Group 4: Company Overview - Rogers Sugar Inc. is a Canadian corporation that owns Lantic, which has been refining sugar for 135 years and operates multiple sugar refineries and a sugar beet processing facility in Canada [11]. - Lantic markets its sugar products under the "Lantic" and "Rogers" trademarks and offers a variety of sugar types and specialty syrups [11].