Local company news roundup

  • Article by: Wire services
  • Updated: February 27, 2013 - 8:49 PM

NEW BUSINESS

CHS Inc., Inver Grove Heights, has formed CHS Agro, a sunflower marketing joint venture with Adecoagro. Located in Pehuajo, Argentina, CHS Agro will grow and process sunflower seed products for global marketing and distribution by CHS. Each company will hold 50 percent ownership in CHS Agro.

DEBT AND EQUITIES

EnteroMedics Inc., Roseville, closed on its previously announced public offering of 13.8 million common shares and warrants to purchase 5.5 million common shares. Each common share sold in the offering was sold with a warrant to purchase 0.4 share of common stock at 95 cents per share. Total net proceeds to the company from the offering are about $12 million after deducting underwriting discounts and commissions and estimated offering expenses. The warrants are exercisable for a period of five years at $1.14 per share.

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