Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime
agricultural land and operations, real estate and water rights in
California, today announced that it plans to make a public offering of
1,800,000 shares of its common stock. The Company also plans to grant
the underwriters a 30-day option to purchase up to an additional 270,000
shares of common stock to cover over-allotments, if any. Janney
Montgomery Scott LLC is acting as the lead book running manager for this
offering. Roth Capital Partners, LLC is acting as co-lead manager of
this offering. Feltl and Company Inc. is acting as co-manager of this
offering.
The Company intends to use the net proceeds from this offering for
general corporate purposes, which may include repayment of debt, real
estate development and agricultural acquisitions.
The preliminary prospectus supplement, the accompanying prospectus and
this press release are not offers to sell any securities of the Company
and are not soliciting an offer to buy such securities in any state
where such offer and sale is not permitted.
The offering of the shares will be made under the Company's shelf
registration statement, which was previously filed with, and declared
effective by, the Securities and Exchange Commission. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the final size
or terms of the offering. The offering may be made only by means of a
preliminary prospectus supplement and an accompanying prospectus, copies
of which may be obtained from Janney Montgomery Scott LLC, Attention:
Equity Capital Markets Group, 60 State St., 35th Floor,
Boston, MA 02109, or by email at prospectus@janney.com.
About Limoneira Company
Limoneira Company, a 119-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one of the
premier integrated agribusinesses in the world. Limoneira (pronounced lē
mon΄âra), is a dedicated sustainability company with approximately 8,200
acres of rich agricultural lands, real estate properties and water
rights in California. The Company is a leading producer of lemons,
avocados, oranges, specialty citrus and other crops that are enjoyed
throughout the world. For more about Limoneira Company, visit www.limoneira.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are based on Limoneira's current expectations
about future events and can be identified by terms such as "expect,"
"may," "anticipate," "intend," "should be," "will be," "is likely to,"
"strive to," and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking
statements are reasonable but cannot guarantee future results, level of
activity, performance or achievements. Actual results may differ
materially from those expressed or implied in the forward-looking
statements. Therefore, Limoneira cautions you against relying on
any of these forward-looking statements. Factors which may cause future
outcomes to differ materially from those foreseen in forward-looking
statements include, but are not limited to: changes in laws,
regulations, rules, quotas, tariffs and import laws; weather conditions
that affect production, transportation, storage, import and export of
fresh product; increased pressure from disease, insects and other pests;
disruption of water supplies or changes in water allocations; pricing
and supply of raw materials and products; market responses to industry
volume pressures; pricing and supply of energy; changes in interest and
currency exchange rates; availability of financing for land development
activities; political changes and economic crises; international
conflict; acts of terrorism; labor disruptions, strikes or work
stoppages; loss of important intellectual property rights; inability to
pay debt obligations; inability to engage in certain transactions due to
restrictive covenants in debt instruments; government restrictions on
land use; and market and pricing risks due to concentrated ownership of
stock. Other risks and uncertainties include those that are
described in Limoneira's SEC filings, which are available on the SEC's
website at http://www.sec.gov.
Limoneira undertakes no obligation to subsequently update or revise
the forward-looking statements made in this press release, except as
required by law.
