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News Breaks | | | | March 17, 2013 | | 12:17 EDT |  | SANW | S&W Seed to acquire Seed Genetics for approximately $16M
S&W Seed announced that it has agreed to purchase 100% of Seed Genetics International. The combination of S&W with Adelaide, Australia-based SGI will create the world 's largest non-dormant alfalfa seed company. The transaction, which is valued at approximately $16M, is scheduled to close in early April 2013 and is expected to be immediately accretive to S&W's earnings.S&W is paying a purchase price of approximately $16M, over half of which consists of 865,000 shares S&W Common Stock and will result in SGI's owners becoming significant shareholders of S&W. The remaining consideration consists of $5M in cash and $3M in the form of a three-year promissory note. Based on unaudited information, SGI had revenues of approximately AUD $18M for the fiscal year ended June 30, 2012 and had pre-tax income of $1.6M. SGI's assets consist primarily of accounts receivable, inventory, a tenured grower base and intellectual property, such as genetics. S&W intends to file audited financial results of SGI no later than 74 days from closing, in compliance with SEC guidelines. | |
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News For SANW From The Last 14 Days Check below for free stories on SANW the last two weeks. |
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| May 13, 2013 | | 16:05 EDT |  | SANW | S&W Seed sees Q4 revenue $12M-$13M, two estimates $3.65M
Q4 revenue view compares to $800,000 for prior year period. | | | 16:04 EDT | | SANW | S&W Seed reports Q3 adjusted EPS (7c), two estimates (4c)
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