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Rogers Sugar ( (TSE:RSI) ) just unveiled an update.
Rogers Sugar Inc. has closed a $57.5 million bought deal public offering of Ninth Series convertible unsecured subordinated debentures, including the full exercise of the underwriters’ over-allotment option, at $1,000 per debenture. The debentures, which bear interest at 5.50% annually and mature on January 31, 2033, are convertible into common shares at a price of $7.91 per share and begin trading today on the Toronto Stock Exchange under the symbol RSI.DB.H. The company plans to use the net proceeds to reduce outstanding amounts under the credit facility of its subsidiary Lantic Inc. and for general corporate purposes, a move that should strengthen its capital structure and improve financial flexibility for ongoing operations.
The most recent analyst rating on (TSE:RSI) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.
Spark’s Take on TSE:RSI Stock
According to Spark, TipRanks’ AI Analyst, TSE:RSI is a Neutral.
Rogers Sugar’s overall stock score is driven by strong earnings performance and attractive valuation, offset by bearish technical indicators and challenges in cash flow conversion. The company’s ability to maintain profitability and a stable dividend amidst operational challenges is a positive sign for investors.
To see Spark’s full report on TSE:RSI stock, click here.
More about Rogers Sugar
Rogers Sugar Inc., listed on the TSX under the symbol RSI, operates in the food and ingredients industry through its subsidiary Lantic Inc., producing and marketing sugar and related products for the Canadian market. The company relies on access to credit markets and capital-raising transactions to fund its operations and manage its balance sheet.
Average Trading Volume: 276,156
Technical Sentiment Signal: Buy
Current Market Cap: C$772.9M
For a thorough assessment of RSI stock, go to TipRanks’ Stock Analysis page.