the company said it will spin out a majority of its stake in Sprout Organics, an organic baby food and toddler brand, to its current shareholders.
The decision was made following a review of strategic alternatives to enhance the company's value.
Once the spinout is complete, which would follow Neptune's (NEPT) exchange of existing Sprout debt for equity, Neptune is expected to retain an ~10-15% stake in the brand.
The spinout is expected to reduce Neptune's (NEPT) operating costs, cash requirements and debt exposure, improving its overall financial position and cash flows.
Neptune (NEPT) continues to evaluate strategic options to maximize
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