FIVE POINTS, California. June 18, 2010. S&W Seed Company (NasdaqCM: SANWU), known for innovations in high yield, non-dormant alfalfa varieties, announced that it completed its public offering on May 7, 2010. The offering was co-managed by Paulson Investment Company and Feltl and Company, of Portland, Oregon and Minneapolis, respectively, and gross proceeds were $15,400,000.
"S&W has been profitably breeding and producing high-yielding alfalfa seed varieties for 30 years,” said Grover Wickersham, Chairman of the Board. The proceeds from the public offering will fuel S&W’s growing presence in the domestic alfalfa seed market. “Our customers are loyal fans of the S&W brand. For the first time in 30 years, we’ll be advertising the advantages of our varieties to a wider audience of farmers and dairymen, and talking about the wins we’ve chalked up in university trials."
A leader in warm-climate alfalfa seeds
Seed varieties developed by S&W can achieve extremely high yields in the harshest environments. Recently the company developed three new varieties that thrive in poor, high-saline soils such as those found in Texas, New Mexico, Arizona and California. These salt-tolerant alfalfa varieties include SW 9720 and SW 9215 (both 9-dormancy varieties) and SW 8718S (an 8-dormancy variety). SW 8718S is the world’s first highly salt tolerant variety with “8” dormancy.
S&W’s leadership claims in high-yielding alfalfa varieties are backed by decades of independent university trials. “We’re constantly improving the salt-tolerance of our seeds while maintaining high performance and resistance to at least six major pests and diseases,” said Bob Sheesley, who for over 20 years has been S&W’s chief plant breeder. “All our work is backed up with extensive independent field testing in the actual soils and growing conditions encountered by our customers.”
Recently, an S&W variety took first place in University of Arizona trials. As has been the case in the past, S&W had four varieties in the top ten and was the only company with more than one variety in the top ten.
“I want to credit Robert Griffin, Richard Olsson and the rest of the commercial lending team at Wells Fargo, Fresno. Their hard work, coupled with their well-known expertise in agricultural banking, was instrumental in helping us succeed,” said Wickersham. “The Fresno office of Wells Fargo Bank backed our growth plan, gave us sound advice and stood with us in a challenging economic environment. No company can ask more from their banker.”
About S&W Seed Company
Since 1980, S&W Seed Company has bred the best in alfalfa seed quality, genetics, traits, and yield with a specialty in high yield, non-dormant alfalfa varieties. From our facility in Five Points, CA, we offer proprietary alfalfa seed varieties in 8 and 9 dormancies for sale, licensing, or contract production. In addition to our leadership role in innovating highly tolerant alfalfa seeds, S&W has recently launched a pilot program to produce stevia leaf, the source of an all-natural, non-caloric sweetener. For more information on the S&W Seed Company, please visit www.swseedco.com.