CGC - Canopy Growth Stock Is Falling Thursday: What's Going On? | Benzinga
Canopy Growth Corp (NASDAQ:CGC) shares are trading lower Thursday after the company announced a new at-the-market equity offering program.
What Happened: Canopy Growth has established an at-the-market equity program that allows the company to issue and sell up to $250 million worth of its common stock from time to time in concurrent public offerings in the United States and Canada.
Any common shares sold in the equity program will be sold in transactions made directly on the Nasdaq or the TSX. The timing of the sales will be determined at the company’s sole discretion.
Canopy Growth said it intends to use any net proceeds for investments in businesses, to fund any potential future acquisitions and ...