Changing World Technologies, Inc. filed to raise up to $100 million in an initial public offering. The West Hempstead, N.Y.-based company sells renewable diesel oil and organic fertilizers that it produces from animal and food processing waste.
The company is noted for financial backing by the owners of the New York Mets and also for a plant in Carthage, Missouri that takes roughly 250 tons of carcasses daily from the ConAgra Butterball turkey factory and turns them into fertilizer and diesel fuel for heating oil.
Changing World Technologies is funded by Apex Capital, ConAgra, Stonehill Capital and the venture capital unit of Fred Wilpon’s Sterling Equities. Mr. Wilpon is chairman and principal owner of the Mets.
WR Hambrecht + Co will act as lead book-running manager for this offering.
Changing World said the public offering price and allocation of shares will be determined primarily by an auction process conducted by the underwriter and other securities dealers participating in the offering.
Loading...