S&W Seed Company (NasdaqCM:SANW) announced that its Board of Directors is evaluating potential avenues to unlock what the Company sees as unrecognized value in its international operations, which are headquartered within the Company's Australian subsidiary. Mark Wong, Chief Executive Officer, commented: "As part of the overall review of our business commenced last May, we have been looking to maximize value for shareholders through our primary business units: US, International, Camelina and Stevia. Our Australian team has been dedicated to improving and optimizing our international operations over the past several years, and we believe they have created substantial value that is currently not being recognized by the broader markets.

Australia is a large and important agricultural market and plays an integral role in the global food supply chain. It also has a vibrant public and private equity agricultural investment community, as well as several mid-sized agricultural companies. We believe now is the right time for us to conduct an accelerated review of our international operations, with a view towards evaluating potential strategic opportunities that could unlock unrecognized value for the benefit of all our stakeholders".

S&W has retained Bell Potter Securities Limited as its financial advisor and to assist the Board in its evaluation. As part of the process, the Board expects to review a full range of potential alternatives, which may include an IPO/Australian public listing of S&W International, or a merger, reverse merger or other business combination or strategic transaction involving the Company's international operations – any of which would be expected to help improve strategic focus, enhance financial transparency, and better enable stakeholders to value separate components of the Company's businesses independently. The Company cautioned that there can be no assurance the Board's evaluation will result in a completed transaction, or any assurance as to its outcome or timing.

S&W expects that the Board's evaluation will be completed in the second half of the 2023 calendar year. It does not intend to disclose any developments related to the process unless and until S&W executes a definitive agreement for a particular transaction, or the Board otherwise determines that further disclosure is appropriate or required.