RiceBran Technologies To Raise $3M Via Direct Equity Offering

by Shivani Kumaresan, Benzinga Staff Writer

September 9, 2021 2:54 PM | 1 min read | Make a Comment

RiceBran Technologies RIBT has entered into a definitive securities purchase agreement with an institutional investor. The company expects to receive gross proceeds of about $3.0 million.
The Investor has agreed to purchase 2.31 million shares of the company's common stock at $0.65 per share in addition to warrants.
The purchase price represents a 15.4% discount on RiceBran's closing price on September 8, 2021.
The offering is expected to close on September 13, 2021.
Price Action: RIBT shares are trading lower by 11.5% at $0.66 on the last check Thursday.

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