SunOpta completes $53.8 million share offering
February 13, 2007
by Eric Schroeder
TORONTO — SunOpta Inc. on Tuesday announced it has completed its previously announced public offering of 5,175,000 common shares at a price of $10.40 per share for aggregate gross proceeds of approximately $53.8 million.
SunOpta said net proceeds of the offering are expected to be used to repay outstanding indebtedness and for general corporate purposes, including future acquisitions, internal expansion projects and working capital requirements.
"We are very pleased with the support we have received from both our existing shareholders and new investors," said Steve Bromley, president and chief executive officer. "The offering was oversubscribed and sold to a broad range of institutional and retail investors in the United States, Canada and Europe."