S&W Seed Company enters stalking horse bid for Chromatin sorghum assetsStaff Writer | September 6, 2018
S&W Seed Company announced that it has entered a stalking horse bid of $23.0 million to purchase substantially all of the assets of Chromatin, Inc., a U.S.-based sorghum operator, which entered into receivership earlier this year.
Acquisition S&W anticipates the transaction would close in October 2018
To assist in funding the potential acquisition and provide additional working capital, S&W has entered into a Securities Purchase Agreement with MFP Partners, L.P., S&W's largest shareholder, providing total proceeds of approximately $27.5 million.
S&W will discuss further details of the process and potential attributes of the transaction during its regularly scheduled year-end financial results conference call to occur later this month. ■