Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY)
- TheStreet.com
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- PR Newswire
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria Announces Definitive Subscription Price for Rights Offering
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (the "Company") (NASDAQ: CRESY) announced today, in connection with its previously-announced offering to holders of record on February 19, 2021 of (i) American Depositary Shares ("ADSs") representing its common shares, of rights to subscribe for 0.1794105273 new ADSs for every ADS held of record, and (ii) its common shares, of rights to subscribe for 0.1794105273 new common shares for every common share held of record, the definitive subscription price for each new ADS or common share in the proposed offering of US$4.72 and US$0.472, respectively. In addition, the Company announced that warrants which the proposed offering contemplates that holders will receive, free of charge, for each new common share purchased, will have an exercise price of US$0.566. The warrants will be exercisable after 90 days following their issuance, prior to their expiration on the fifth anniversary of their issue date, during the nine-day period from and including the 17th through the 25th day of each February, May, September and November (to the extent such dates are business days in New York City and in the City of Buenos Aires). Each warrant will entitle the holder thereof to purchase one additional common share. The subscription period for the rights to acquire ADSs will expire on March 2, 2021, unless extended by the Company. The subscription period for the rights to acquire common shares will expire on March 5, 2021, unless extended by the Company. The new ADSs and warrants acquired pursuant to the rights offering made to ADS holders are expected to be issued and made available as soon as practicable after the new common shares are deposited with the ADS depositary's custodian in Argentina. The new common shares and warrants acquired pursuant to the rights offering made to holders of common shares are expected to be issued and made available within five business days (in New York City and Buenos Aires, Argentina) following the expiration of the common shares subscription period.
- PR Newswire
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria Announces Submission of Draft Registration Statement for Proposed Rights Offering
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (the "Company") (NASDAQ: CRESY) announced today that it has submitted an amended draft registration statement on Form F-3 to the U.S. Securities and Exchange Commission relating to a proposed offering to holders of record on February 19, 2021 of (i) American Depositary Shares ("ADSs") representing its common shares, of rights to subscribe for 0.1794105273 new ADSs for every ADS held of record, and (ii) its common shares, of rights to subscribe for 0.1794105273 new common shares for every common share held of record. In addition, the proposed offering contemplates that each ADS holder will receive, free of charge, for each new ADS that it purchases pursuant to the exercise of such rights, 10 warrants, and that each holder of common shares will receive, free of charge, for each new common share that it purchases pursuant to such rights, one warrant. Each warrant will entitle the holder thereof to purchase one additional common share.
