Dakota Growers Pasta Company, the third largest maker of dried pasta products in North America, has filed documents related to a tender offer for 3.92m shares, or 29.8% of outstanding stock, with the Securities and Exchange Commission.
The company will purchase shares tendered for US$10 each, and intends to commence the offer as soon as possible.
The tender offer is part of, and a condition to, the investment by MVC Capital and La Bella Holdings. The company has agreed to issue up to 1m shares to each investor at a price of $10 per share. The total number of shares purchased by MVC and La Bella is dependant on the number of shares purchased by the company in the tender offer.