Farmland operator Taggares Agriculture sets terms for $46 million IPO
Taggares Agriculture, which operates vineyards and apple orchards in Pacific Northwest, announced terms for its IPO on Monday. The Kennewick, WA-based company plans to raise $46 million by offering 7.0 million shares at a price range of $6 to $7. At the midpoint of the proposed range, it would command a fully diluted market value of $54 million.
Taggares Agriculture, which was founded in 1979 and booked $8 million in sales for the 12 months ended February 28, 2014, plans to list on the NASDAQ under the symbol TAG. It initially filed confidentially on February 26, 2014. Janney Montgomery Scott and Roth Capital are the joint bookrunners on the deal.
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