OGI - Why OrganiGram (OGI) Stock Is Diving | Benzinga

OrganiGram Holdings Inc (NASDAQ:OGI) shares are trading lower by 19% to $2.17 Wednesday afternoon after the company announced pricing of an overnight marketed public offering.

The offering consists of 7.74 million units priced at C$3.23 each, totaling approximately C$25 million. The underwriters have an option to purchase an additional 1.161 million units within 30 days of the offering’s closing.

Each unit comprises one common share of the company and half of a common share purchase warrant. The warrants can be exercised to acquire one common share at C$3.65 per share for four years after the offering’s closing.

The offering is expected to close around April 2, pending market conditions, regulatory approvals, and compliance with stock exchange rules. Organigram intends to use ...

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