VFF - Village Farms stock dips on $25M securities offering

• Village Farms International ( NASDAQ: VFF ) shares fell over 35% premarket on Thursday after the company announced a $25M securities offering.
• The offering comprises 18.35M shares of the company's common stock and warrants to purchase up to 18.35M shares, issued at a combined purchase price of US$1.35 per share and accompanying warrant.
• The warrants will have an exercise price of $1.65, will be exercisable beginning six months from issuance and will expire five years from the date of initial exercisability.
• Gross proceeds are estimated to be ~$25M; net proceeds are intended to be used for general working capital purposes.
• The offering is expected to close on or about Jan. 30, 2023.

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