Farmland Partners announces launch of Initial Public Offering
25/03/2014 15:03
Farmland Partners Inc. announced that it has commenced an initial public offering of 4,666,667 shares of its common stock pursuant to a registration statement on Form S-11 filed with the U.S. Securities and Exchange Commission (SEC). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 700,000 shares of common stock to cover any over-allotments. The initial public offering price is currently expected to be between USD 14 and USD 16 per share of common stock. The Company intends to use the net proceeds from the offering to repay certain outstanding indebtedness and for general corporate purposes, including working capital, future farmland acquisitions and, potentially, paying distributions. The Company's common stock has been approved for listing, subject to official notice of issuance, on the New York Stock Exchange under the symbol "FPI." The offering is being made through an underwriting group led by Robert W. Baird & Co. Incorporated, BMO Capital Markets Corp. and Janney Montgomery Scott LLC, who are serving as book-running managers. Mitsubishi UFJ Securities (USA), Inc. is serving as a lead manager of the offering and Stephens Inc. is serving as a co-manager of the offering.
25/03/2014 15:03
Farmland Partners Inc. announced that it has commenced an initial public offering of 4,666,667 shares of its common stock pursuant to a registration statement on Form S-11 filed with the U.S. Securities and Exchange Commission (SEC). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 700,000 shares of common stock to cover any over-allotments. The initial public offering price is currently expected to be between USD 14 and USD 16 per share of common stock. The Company intends to use the net proceeds from the offering to repay certain outstanding indebtedness and for general corporate purposes, including working capital, future farmland acquisitions and, potentially, paying distributions. The Company's common stock has been approved for listing, subject to official notice of issuance, on the New York Stock Exchange under the symbol "FPI." The offering is being made through an underwriting group led by Robert W. Baird & Co. Incorporated, BMO Capital Markets Corp. and Janney Montgomery Scott LLC, who are serving as book-running managers. Mitsubishi UFJ Securities (USA), Inc. is serving as a lead manager of the offering and Stephens Inc. is serving as a co-manager of the offering.
