LONGMONT, Colo., Jan. 13, 2025 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) ("S&W Seed" or the "Company"), today announced that its Board of Directors (the "Board") of the Company is commencing a process to explore and evaluate various strategic alternatives that may be available to S&W Seed in an effort to enhance shareholder value.
The Company expects to consider a broad range of potential opportunities, including, among others, a sale of the Company, a merger with another strategic partner, a recapitalization or continued execution of the Company's attractive long-term business plan.
Alan Willits, Chairman of S&W Seed, commented: "S&W Seed continues to successfully execute on its long-term plan. Over the last year, S&W Seed has taken decisive actions to strengthen the Company, including by divesting S&W Seed Australia subsidiary and exclusively focusing on its core US-based sorghum and alfalfa operations, led by its high-margin sorghum trait portfolio with Double Team, and its investment in the VBO Camelina biofuel joint-venture with Shell, while aligning its cost structure and strengthening the Company's management and employees. We continue to support all initiatives that optimize shareholder value and will consider the full range of potential strategic alternatives to ensure S&W Seed is best positioned for future success."
There can be no assurance that the review process will result in the Company pursuing any transaction or any other strategic outcome, nor as to the form or timing of any of the foregoing. The Board has not set a timetable for completion of this process and the Company does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary.
The Committee is being advised by Rabobank Securities Inc. as the financial advisor and Cooley LLP as legal counsel.
About S&W Seed Company
Founded in 1980, S&W is a multi-crop, middle-market agricultural company headquartered in Longmont, Colorado. S&W's vision is to be a preferred proprietary seed company that supports the growing demand for animal proteins and healthier consumer diets. S&W is a leader in sorghum seeds with significant research and development, production and distribution capabilities. S&W also has a commercial presence in proprietary alfalfa, and through a partnership, is focused on sustainable biofuel feedstocks primarily within camelina. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This 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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." Forward-looking statements in this release include, but are not limited to, statements regarding our process to explore and evaluate various strategic alternatives; whether the process will result in a transaction or other strategic outcome; the expected benefits of such transaction or other outcome, if any; the expected benefits of the divestment of our Australian subsidiary and other initiatives; and our success in executing our long-term business plan. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risk that we may not consummate a transaction or other strategic outcome; the risk that any transaction or strategic outcome may not provide the anticipated benefits; the risk that our business plan may not be successful and our strategic initiatives may not achieve the expected results; and the risks associated with our ability to successfully optimize and commercialize our business. These and other risks are identified in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended June 30, 2024 and in other filings subsequently made by the Company with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Company Contact:
Mark Herrmann, Chief Executive Officer
S&W Seed Company
Phone: (720) 593-3570
www.swseedco.com
Investor Contact:
Robert Blum
Lytham Partners, LLC
Phone: (602) 889-9700
sanw@lythampartners.com
www.lythampartners.com
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SOURCE S&W Seed Company
