Today, Bioceres Crop Solutions Corp. (NASDAQ: NASDAQ:BIOX), an agricultural solutions company with a market capitalization of $450 million, reported that its subsidiary, Rizobacter Argentina S.A., has successfully completed a public offering of Series X corporate bonds, raising approximately $25.9 million in the Argentine market.
The funds raised from the bond issuance are earmarked for bolstering working capital and extending the company's debt maturities. These bonds have not been registered under the U.S. Securities Act of 1933, as amended, and are subject to resale restrictions unless registered under the Securities Act or an exemption from registration is applicable.
Bioceres Crop Solutions Corp. specializes in the development and commercialization of innovative solutions aimed at regenerating agricultural ecosystems and enhancing crop resilience to climate change.
In other recent news, Bioceres Crop Solutions Corp. reported a 20% decline in total revenues for the fiscal first quarter of 2025, amounting to $93.3 million. This decrease was largely due to severe drought conditions in Argentina, negatively impacting the company's crop nutrition sales. Nevertheless, Bioceres experienced growth in North America and Brazil and received regulatory approval for HB4 soy cultivation in Uruguay and Bolivia.
Oppenheimer maintained its Outperform rating on Bioceres, noting the company's strategic focus on portfolio prioritization and regional growth as key factors in managing the impact of challenging market conditions. The firm sees fiscal year 2025 as a transition year for Bioceres, leading to greater revenue efficiency.
Further recent developments include Bioceres refining its HB4 seed strategy and continuing its collaboration with Syngenta, which is anticipated to generate substantial profits over the next decade. The company's adjusted EBITDA stood at $8.5 million, with a cash position of nearly $40 million.
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