FIVE POINTS, Calif. (AP) -- S&W Seed Co. said Friday that it is offering 1.4 million of its shares at $7.50 per share.
The Five Points, Calif. alfalfa seed company anticipates proceeds of $10.5 million, which it will use for working capital, general corporate purposes and potential future business acquisitions.
Piper Jaffray & Co. is acting as the sole manager for the offering, with Wm. Smith & Co. acting as a financial advisor.
Shares of the company fell 45 cents, nearly 6 percent, to $7.72 by midday. Its shares remain at the higher end of its 52-week trading range of $4.30 to $8.75.