One of Canada’s largest pulse processing firms intends to get bigger.
A syndication of underwriters has agreed to purchase 1,742,000 common shares in Legumex Walker Inc. at a purchase price of $7.75 per share.
The deal will result in gross proceeds for the company of $13.5 million, which will be used to fund potential new acquisitions and general corporate purposes.
The underwriters have an option to purchase an additional 193,500 shares within 30 days after the closing of the offering for an additional $1.5 million.
The offering is scheduled to close Oct. 25.
Legumex Walker operates 14 processing facilities in Western Canada, the U.S. Midwest and China.
The company recently announced it had completed the acquisition of Keystone Grain Ltd., a Manitoba processor of sunflowers, flax and other specialty crops.
