AGI Announces Increase to Previously Announced Offering of Senior Subordinated Unsecured Debentures to $85 Million

Core Viewpoint - Ag Growth International Inc. (AGI) has announced a revised agreement to increase the size of its offering of senior subordinated unsecured debentures to $85 million due to strong demand [1][2]. Group 1: Offering Details - The offering will consist of $85 million aggregate principal amount of debentures priced at $1,000 each, with an over-allotment option allowing for an additional $12.75 million, potentially bringing total gross proceeds to $97.75 million if fully exercised [1][2]. - The closing of the offering is expected around June 9, 2025, subject to regulatory approvals [4]. - The debentures will bear an interest rate of 7.50% per annum, payable semi-annually, with a maturity date of June 30, 2030 [5]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to repay existing indebtedness under the company's senior operating credit lines, which will then be available for general corporate purposes [3]. Group 3: Redemption and Payment Options - The debentures are not redeemable before June 30, 2028, except in the event of a change of control [6]. - Upon redemption or maturity, the company may choose to satisfy its obligation by issuing common shares instead of cash [7]. - The debentures will not be convertible into common shares at the option of the holders [8]. Group 4: Company Profile - AGI is a provider of equipment and solutions for the efficient storage, transport, and processing of food globally, with manufacturing facilities in multiple countries including Canada, the U.S., Brazil, India, France, and Italy [9].