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January 14, 2013
13:13 EDTLNDCLandec volatility low on wide price movement
Landec January call option implied volatility is at 34, February and June is at 32; below its 26-week average of 39 according to Track Data. Low volatility suggests non-directional price movement as we are hearing it is up on takeover speculation.
News For LNDC From The Last 14 Days
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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.

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