Anaergia Divests Non-Core Bioenergy Facilities, Sheds C$20M Debt
ANRGF sits 84% above its 52-week low of $0.909 on light trading volume (0.4× avg).
Summary
Anaergia signed a definitive agreement to sell its Charlotte and Rhode Island bioenergy facilities, removing approximately C$20 million of project-level debt from its balance sheet. The company receives about C$9 million in equity of the private buyer and expects a non-cash gain. This follows strong Q2 results and a recent C$36 million agreement with TisVet, reinforcing management's focus on profitable growth. The divestiture eliminates negative earnings from non-core assets and improves the earnings profile. Watch for closing adjustments and the ultimate value of the private equity received.
At the time of this announcement, ANRGF was trading at $1.67 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $289.4M. The 52-week trading range was $0.91 to $4.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.