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RiceBran Technologies Closes Exercise of Underwriters Over- Allotment

January 24, 2014

RiceBran Technologies announced the closing of the exercise of the over-allotment option granted to the underwriters in connection with the previously announced public offering, which closed Dec. 18, 2013 . In a release on Jan. 9 , the Company said that in connection with that offering, the underwriters were granted an over-allotment option to purchase shares of the Company's common stock at the public offering price of $5.24 per share and warrants to purchase shares of the Company's common stock at the public offering price of $0.01 per share. On Jan. 8 , the underwriters exercised the over- allotment option by purchasing 162,586 shares of the Company's common stock and warrants to purchase 162,586 shares of common stock for approximately $0.9 million , bringing the total gross proceeds of the offering to approximately $9.9 million . The Company used $3,000,000 of the net proceeds from the initial offering to increase capital and support expansion of its Brazilian rice bran bio-refining operations and an additional $2,000,000 of the net proceeds of the initial offering to complete the previously announced acquisition of H&N Distribution, Inc. , which closed on Jan. 2 . Funds raised from the exercise of the overallotment will be used for general working capital purposes. Maxim Group acted as the Sole Book Running Manager and Chardan Capital Markets , and Dawson James Securities, Inc. acted as Co- Managers in the offering. The Company's Common Stock and Warrants are listed on the NASDAQ Capital Market under the symbols "RIBT" and "RIBTW" respectively. This offering was made by means of prospectus, copies of which may be obtained from Maxim Group at 405 Lexington Ave , New York, New York 10174, (800) 724-0761. RiceBran Technologies is a human food ingredient and animal nutrition company. ((Comments on this story may be sent to ))

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