04:10 AM EST, 11/27/2024 (MT Newswires) -- Brazil Potash ( GRO ) said late Tuesday it has priced its initial public offering of 2 million shares at $15.00 per share, for gross proceeds of about $30 million.

The company said it has also granted underwriters a 30-day option to purchase up to 300,000 additional shares to cover any over-allotments.

The shares are expected to begin trading on the New York Stock Exchange this Wednesday, under the ticker symbol, "GRO." The offering is expected to close Friday.

The company said it has also agreed to issue underwriters warrants for shares equal to 5% of the total sold in the offering. The warrants will be exercisable at 130% of the IPO price.