Rogers Sugar Closes $57.5 Million Convertible Debenture Offering, Including the Full Exercise of the Over-Allotment Option Granted to the Underwriters

Executive Summary

• Rogers Sugar Inc. completed a $57.5 million bought‑deal public offering of Ninth Series convertible unsecured subordinated debentures, fully exercising the underwriters’ over‑allotment option.
• The 5.50% per annum debentures mature on January 31 2033 and are convertible at a rate of 126.4223 shares per $1,000 principal (conversion price $7.91).
• Net proceeds will be used to reduce borrowings under Lantic’s credit facility and for general corporate purposes.

Key Details

• Offering size: Aggregate principal amount of $57,500,000.
• Price: $1,000 per debenture (including full over‑allotment).
• Underwriters: Syndicate co‑led by BMO Capital Markets and National Bank Capital Markets; also TD Securities, Scotia Capital, CIBC World Markets, Desjardins Securities, RBC Dominion Securities.
• Interest rate: 5.50% per annum, payable semi‑annually on the last day of January and July (first payment July 31 2026).
• Conversion terms: Holder may convert at any time into common shares at 126.4223 Debenture Shares per $1,000 principal, equivalent to a conversion price of $7.91 per share.
• Maturity: January 31 2033.
• Trading symbol: Commenced trading on the Toronto Stock Exchange under RSI.DB.H as of the announcement date.
• Use of proceeds: Primarily to reduce amounts outstanding under Lantic’s credit facility and for general corporate purposes.
• Regulatory notes: Offering made pursuant to a prospectus supplement dated January 7 2026, attached to the final short‑form base shelf prospectus (dated December 5 2025). Not registered in the United States; offered only under applicable exemptions.

Notable Quotes

(No executive quotes were included in the release.)