EverGen Infrastructure Closes $13M Financing, Restructures Debt
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Businesswire
- Successful Financing: EverGen has successfully closed a $13 million asset-level debt facility through its wholly-owned subsidiary Fraser Valley Biogas Ltd., strengthening the company's financial foundation and setting the stage for strategic repositioning heading into 2026.
- Debt Repayment Plan: The financing will primarily be used to repay $12 million of corporate debt, which is expected to materially reduce the company's annual debt service costs, thereby enhancing overall financial health.
- Private Placement Completion: The company also completed the second tranche of its non-brokered private placement, raising approximately $1.9 million by issuing 3,152,441 common shares, further bolstering working capital and operational capabilities.
- Increased Shareholder Confidence: CEO Chase Edgelow noted that this financing not only aligns with the company's assets but also signals institutional confidence, providing flexibility for sustainable growth in the future.
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About EVGN
Evogene Ltd is an Israel-based company, engaged in leveraging computational biology to design products for life-science-based industries including human health, agriculture, and industrial applications. Leveraging Big Data and Artificial Intelligence while incorporating a deep understanding of biology, Evogene established its technology, the Computational Predictive Biology (CPB) platform, to computationally design microbes, small molecules and genes as the core components for life-science products. Evogene holds a number of subsidiaries utilizing the CPB platform, for the development of human microbiome-based therapeutics, medical cannabis, ag-biologicals, ag-chemicals, seed traits and ag-solutions for castor oil production.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
