WEED - Weed Giant Canopy Announces Upsized $35M Private Placement | Benzinga
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced on Thursday that it has entered into subscription agreements with certain institutional investors in a private placement offering of 8,158,510 units at $4.29 per unit for aggregate gross proceeds of roughly $35 million.
Details
Each unit will be comprised of the company's one common share and one series A common share purchase warrant or one series B common share purchase warrant, with each warrant entitling the holder to acquire one common share from the company at $4.83.
The series A warrants will be exercisable immediately following the offering’s closing for five years. The series B warrants will be exercisable for five years as well, commencing on the date that is six months following the closing of the offering, the company said in a press release.