New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 17, 2013
12:17 EDTSANWS&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.
News For SANW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 15, 2014
07:02 EDTSANWS&W Seed terminates active discussions to acquire ops of alfalfa seed company
S&W Seed announced that the company has terminated active discussions to acquire certain operations of an alfalfa seed company of similar size. The acquisition would have required a significant financing, having equity as a component. Due to the recent decline in the company's stock price, which the company believes significantly undervalues its current operations and potential, and is below the company's book value per share, the company has elected not to pursue the acquisition at this time. Discussions with potential financing sources were done under confidentiality agreements that restricted them from trading S&W stock, and those agreements are terminated effective immediately. The company may revisit this or other strategic acquisitions at some point in the future, without further notice.

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

I agree to the theflyonthewall.com disclaimer & terms of use