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Rogers Sugar Announces a $50 Million Convertible Debenture Offering
Globenewswire· 2026-01-05 21:41
Core Viewpoint - Rogers Sugar Inc. announced a public offering of $50,000,000 aggregate principal amount of Ninth Series convertible unsecured subordinated debentures with an annual interest rate of 5.50% and a maturity date of January 31, 2033 [1][2]. Group 1: Offering Details - The offering price for the Offered Debentures is set at $1,000 per debenture [1]. - The Offered Debentures will be convertible into common shares at a conversion price of $7.91 per share [2]. - The Offered Debentures are not redeemable prior to January 31, 2029, and can be redeemed under specific conditions thereafter [2]. Group 2: Underwriters and Over-Allotment Option - The offering is being conducted through a syndicate of underwriters co-led by BMO Capital Markets and National Bank Capital Markets [2]. - An Over-Allotment Option allows underwriters to purchase up to an additional $7,500,000 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 Filing Information - The Offered Debentures will be offered in Canada pursuant to a prospectus supplement that will be filed by January 7, 2026 [6]. - The offering is expected to close on or about January 12, 2026, subject to regulatory and TSX approval [4].
New Five-Year Agreement with the Alberta Sugar Beet Growers
Globenewswire· 2025-05-09 21:01
Core Points - Rogers Sugar Inc. has signed a five-year agreement with the Alberta Sugar Beet Growers for the supply of sugar beets to its Taber sugar refining plant, covering the 2025 to 2029 crops [1][3] - The Taber operation is the only sugar beet processing facility in Canada, supported by approximately 200 Southern Alberta farm families, ensuring that all sugar produced at this location is 100% Canadian [2] - The agreement is expected to support the needs of customers in Western Canada, as stated by the President and CEO of Lantic Inc and Rogers Sugar Inc. [3] Company Overview - Rogers Sugar Inc. operates under Canadian laws and holds all common shares of Lantic, with its administrative office located in Montréal, Québec [4] - Lantic operates cane sugar refineries in Montréal and Vancouver, as well as the only Canadian sugar beet processing facility in Taber, Alberta, and a distribution center in Toronto [4] - The company's sugar products are marketed under the "Lantic" trademark in Eastern Canada and the "Rogers" trademark in Western Canada, including various types of sugars and specialty syrups [4]