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