The Andersons, Inc. (Nasdaq: ANDE) announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 2.28 million shares of its common stock, of which 2 million shares are proposed to be sold by the Company. (Press Release)
The company hopes to raise up to $100 million via the offering to build more ethanol plants and railcars. The former Jim Cramer pick has seen an incredible runup in its stock and recently even did a stock split. Although the ethanol sector has traced back from its incredible highs, it's still a sector to keep an eye on.
There are even some rumblings about consolidation in the industry. It would be interesting to see buyouts in the sector and who the potential buyers will be.