Village Farms Announces $135M Registered Direct Offering

Village Farms International Inc. VFF VFF has raised some $135 million through a direct offering of about 10.9 million shares.

Each share at the offering has a price target of $12.40.

The completion of the offering is dependent on usual closing approvals. It is projected to close around Jan. 20.

The Vancouver, British Columbia-based company plans to utilize the collected net proceeds from the offering for customary capital purposes.

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A.G.P./Alliance Global Partners and Raymond James (USA) Ltd. were named as co-lead placement agents and Roth Capital Partners as co-placement agent for the offering, while the role of a financial advisor has taken Beacon Securities Ltd.

Village Farms is regarded as one of the longest-operating greenhouse cultivators in the U.S. The vertically integrated produce supplier acquired British-Columbia-based Pure Sunfarms, one of the biggest cannabis operations globally, in November.

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