Adecoagro Prices $300 Mln Share Offering At $7.25/shr

(RTTNews) - Adecoagro S.A. (AGRO), an agro-industrial company, on Friday announced that it has priced its previously announced underwritten offering of 41,379,311 common shares at $7.25 per share.

The offering is expected to close on December 15.

The company expected to generate approximately $300 million in gross proceeds.

The transaction includes a 30-day option for underwriters to purchase up to an additional 1,111,035 shares.

The offering includes commitments from key stakeholders.

The company said that the controlling shareholder, Tether Investments S.A. de C.V. agreed to purchase 30,344,827 shares, while management and other investors agreed to acquire a combined 3,627,585 shares at the public offering price.

Adecoagro closed the regular trading session on December 12 at $7.38, lesser $0.46 or 5.87%. Later, in overnight trading, the share price declined to $7.22, slid $0.16 or 2.17%, as of 12:18 AM EST.