Message #8 From:
Stock News Bot Date: April 26, 2008 07:46:39 AM
NutraCea Announces $20 Million Securities Offering
--(www.USEquityNews.com)-- 04/25/2008 - NutraCea (OTCBB: NTRZ), a world
leader in stabilized rice bran (SRB), nutrient research and technology,
today announced that it has entered into definitive agreements to sell
securities to selected institutional investors for aggregate gross
proceeds of $20,000,000. The offering is made pursuant to the Form S-3
shelf registration statement that was filed by NutraCea with the
Securities and Exchange Commission (the "SEC") and declared effective
by the SEC on April 8, 2008. The offering is expected to close on or
about April 30, 2008, subject to the satisfaction of customary closing
conditions. NutraCea intends to use the net proceeds from the offering
for general corporate purposes, for working capital and operational
purposes and future acquisitions and strategic investment opportunities.
The securities in the offering include up to 22,222,223 shares of
NutraCea common stock and warrants to purchase up to 6,666,666 shares
of NutraCea common stock, which securities are being offered in "units"
at a price of $.90 per unit. Each unit consists of one share of
NutraCea common stock and a 5 year warrant to purchase 0.3 of a share
of NutraCea common stock at an exercise price of $1.20 per share for
each share of common stock that the investor purchases in the offering.
Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman &
Renshaw Capital Group, Inc., acted as the exclusive placement agent for
the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. Any offer will be made only by means of a
prospectus, including a prospectus supplement, forming a part of the
effective registration statement. Copies of the prospectus supplement
together with the accompanying prospectus can be obtained at the
Securities and Exchange Commission's website at http://www.sec.gov or
from Rodman & Renshaw, LLC, 1270 Avenue of the Americas, 16th
Floor, New York, NY, 10020.
About NutraCea
NutraCea is a leader in stabilized rice bran nutrient research and
dietary supplement development. Through its wholly owned subsidiary
RiceX, the company manufactures and distributes products and food
ingredients made from rice bran through its proprietary technology and
processes. The company has developed intellectual properties to create
a range of proprietary product formulations, delivery systems and whole
food nutrition products. NutraCea's proprietary technology enables the
creation of food and nutrition products from rice bran, normally a
wasted by-product of standard rice processing. In addition to its whole
foods products, NutraCea develops families of health-promoting
"nutraceuticals," including natural arthritis relief and
cholesterol-lowering products. More information can be found in the
company's filings with the SEC, and at the company's Web site
http://www.NutraCea.com.
