RiceBran Technologies has announced a registered direct offering valued at $3 million. | Courtesy of Shutterstock
RiceBran Technologies has agreed to sell $3 million of stock to an unnamed institutional investor from the health care sector.
The purchase will be good for two million shares of common stock, valued at $1.50 per share.
RiceBran Technologies officials said the company will use the investment money for general corporate purposes and business development for its U.S. and Brazil operations.
Rice Bran Technologies makes ingredients for human and animal food derived from rice bran.