Sanderson Farms (NASDAQ: SAFM) Plans To Offer 2 Million Shares, Use Proceeds To Build New PlantSanderson Farms Inc. (NASDAQ:SAFM) plans to offer 2 million shares of its common stock and use the proceeds to build a new plant.
The plant will be located in North Carolina.
The company also plans to use other month in order to build a deboning complex in North Carolina and potentially a large-bird processing facility.
Sanderson Farms said that it may use some of the proceeds to pay down debt and make investments.
Underwriters were granted a 30-day option to buy up to 300,000 additional shares.