New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 2, 2013
16:12 EDTLNDCLandec now sees FY13 revenue up 33%-38% vs. FY12
Previous guidance was for FY13 revenue growth of approximately 30%.
News For LNDC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 31, 2014
09:12 EDTLNDCLandec subsidiary increases investment in Windset by $7M
Landec announced that its subsidiary, Apio, Inc., has increased its investment in Windset Holdings by purchasing $7.0M of Senior B Preferred Stock. The Senior B Preferred Stock pays an annual dividend of 7.5% on the amount outstanding at each anniversary date. The Senior B shares purchased by Apio have a put feature whereby Apio can sell back to Windset $1.5M of shares on the first anniversary, an additional $2.75M of shares on the second anniversary and the remaining $2.75M on the third anniversary. After the third anniversary, Apio may at any time put any or all of the shares not previously sold back to Windset. At any time on or after February 15, 2017, Windset has the right to call any or all of the outstanding Common shares and at such time must also call the same proportion of Senior A Preferred shares, Senior B Preferred shares and Junior Preferred shares owned by Apio. Windset's partial call provision is restricted such that a partial call cannot result in Apio holding less than 10% of Windset's Common shares outstanding. This transaction does not change Apio's 26.9% common stock ownership in Windset. In addition to the newly acquired Senior B Preferred shares, Apio owns Senior A Preferred shares with a liquidation value of $15.0M and Junior Preferred shares with a liquidation value of $5.1M. The issuance of preferred shares is part of Windset's capital plan which includes the consolidation and syndication of its Canadian and US debt facilities and the creation of an additional borrowing facility to fund future growth opportunities.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use