Shares of AgroFresh Solutions (NASDAQ: AGFS) popped in morning trading today as the agricultural technology innovator stated in an SEC filing that it had agreed to consider a takeover offer from Paine Schwartz Partners.
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As a part of this offer, Paine Schwartz has offered to acquire all outstanding shares of AGFS at $3 per share in cash.
Paine Schwartz, a private equity firm has been an investor in AgroFresh since June 2020 after the company agreed to sell $150 million of newly issued convertible preferred stock. At that time, this preferred stock represented around 36% of AgroFresh’s outstanding shares.