Brazil Potash Corp. has announced the closing of its initial public offering (IPO) of 2,000,000 of its common shares, no par value per shares, at a price to the public of US$15.00 per share. The gross proceeds to the company from the IPO, before deducting underwriting discounts and commissions and estimated offering expenses payable by the company, were US$30.0 million. In addition, the company has granted the underwriters an option to purchase up to an additional 300,000 common shares, for a period of 30 days from the date of the final prospectus, to cover over-allotments, if any.
The common shares commenced trading on the NYSE American on November 27, 2024 under the symbol “GRO”.
The offering underwriting syndicate is led by Cantor Fitzgerald & Co and Banco Bradesco BBI and including Freedom Capital Markets, Roth Capital Partners and Clarksons Securities.
Bennett Jones is acting as Canadian legal counsel to the underwriters.
The Bennett Jones team is led by James Clare and Chris Doucet and includes Pardeep Brar and Rita Cherevychko (Corporate/Securities).
Bennett Jones