NutraCea places $50m in shares to fund rice bran expansion

By Clarisse Douaud

- Last updated on GMT

Related tags: Rice bran, Wheat, Maize, Nutracea

Rice bran derivative supplier NutraCea has announced the private
placement of $50m worth of its common stock, which it plans to use
to finance the large-scale supply of its products.

The Californian company specializes in the research, production and marketing of stabilized rice bran and its derivatives and has heavily pushed forth the notion that its products may be used to ward off malnutrition in the developing world. With this private placement, the company claims it is positioning itself to meet what it said is an increased demand for rice bran based on a sharp price increase in other grain products such as corn and wheat. "This opportunity for rapid growth positions us to make stabilized rice bran and rice bran derivatives accessible to global communities as a food ingredient, an economical solution for the reduction of malnutrition and for nutraceutical products that address a variety of health issues,"​ said NutraCea CEO & president Brad Edson. Since it was founded in 2000, the NutraCea's ingredients have been served as part of feeding programs in Latin America and the Caribbean. The company has been knocking on doors throughout the world slowly trying to get the word out about what it can offer programs funded by both government, charities and non-governmental organizations. The company announced it has entered into definitive agreements with institutional and accredited investors for the placement of 20,000,000 shares of common stock at a $2.50 per share.

Related topics: Suppliers, Polyphenols

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