FDGE Stock: Is TSX Debutant Farmers Edge Worth Your Investment?

2 min read | March 04, 2021 08:29 PM AEDT | By Shreya Biswas

FDGE Stock: Is TSX Debutant Farmers Edge Worth Your Investment?

Farmers Edge Inc (TSX:FDGE)

Farmers Edge, co-founded by present CEO Wade Barnes, steps into the public market after about 16 years in business. Based in Manitoba’s Pilot Mound, it provides farmers and plant growers advanced technology-based solutions, such as using artificial intelligence (AI), to boost their crop yields.

The agricultural tech firm filed its preliminary prospectus early on in February. It had expected an IPO size of C$ 100 million, which could rise to C$ 115 million in case of an over-allotment implementation, and an IPO price of C$10 to C$ 17 per share.

©Kalkine Group 2021

While announcing the closure of its IPO on Wednesday, however, Farmers Edge said that it sold 7.35 million shares at a price of C$ 17 apiece, raising total gross proceeds of over C$ 125 million. The Manitoba-based firm has also issued a revised over-allotment option, valid for 30 days, which could raise the financing up to C$ 18.76 million if completely exercised.

*as per TMX

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.