Item 7.01. Regulation FD Disclosure.
On January 3, 2023, S&W Seed Company (the "Company") issued a press release
announcing that S&W Seed Company Australia Pty Ltd, a wholly owned subsidiary of
the Company ("S&W Australia"), had entered into a joint venture with Trigall
Genetics S.A. ("Trigall") for the development and marketing of wheat varieties
in Australia through Trigall Australia Pty Ltd, a newly formed Australian
corporation ("Trigall Australia"). A copy of the press release is furnished as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by
reference.
The information contained or incorporated in this Item 7.01 of this Current
Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the
purposes of or otherwise subject to the liabilities under Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"). Unless
expressly incorporated into a filing of the Company under the Securities Act of
1933, as amended, or the Exchange Act, the information contained in this Item
7.01, including Exhibit 99.1, shall not be incorporated by reference into any
filing of the Company, whether made before or after the date hereof, regardless
of any general incorporation language in such filing.
Item 8.01. Other Events.
On January 3, 2023, the Company announced that S&W Australia had entered into a
joint venture with Trigall for the development and marketing of wheat varieties
in Australia through Trigall Australia. In exchange for S&W Australia's
contribution of its Australia-based wheat breeding program and related assets to
Trigall Australia, S&W Australia received $2.0 million in cash and a 20%
ownership interest in Trigall Australia, and is entitled to receive $1.0 million
in cash in December 2023. S&W Australia is obligated to make an aggregate of
$560,000 of capital contributions to Trigall Australia through June 2025 and has
agreed to provide certain marketing, collection and other operational services
in support of the joint venture.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description
99.1 Press Release of S&W Seed Company dated January 3, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
* This exhibit is furnished and shall not be deemed "filed" for purposes of the
Exchange Act, as amended.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses