trending Market Intelligence /marketintelligence/en/news-insights/trending/uinMXyWWsuy80bukV-OEVQ2 content esgSubNav
In This List

WeedMD upsizes bought-deal offering to raise C$30M

Blog

Global M&A By the Numbers: Q3 2021

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

University Essentials: From Crisis to Resilience – Navigating Sustainable Recovery

Blog

EV impact; vaccines to boost job market; coal supply constraints


WeedMD upsizes bought-deal offering to raise C$30M

WeedMD Inc. said it upsized its bought-deal offering to raise about C$30 million in gross proceeds.

The underwriters of the offering agreed to buy 13,953,488 units at C$2.15. Each unit comprises one common share and half a common stock purchase warrant exercisable at C$2.90 per share.

The company will grant the underwriters an option to buy up to an additional 15% of the units. If the underwriters exercise their option in full, it will add an additional C$4.5 million to the total proceeds.

WeedMD intends to use the net proceeds for working capital, general corporate purposes and to expand production capacity within its existing 14-acre greenhouse footprint.

The offering is expected to close Jan. 11, 2018, subject to customary closing conditions.

Eight Capital is acting as the sole book runner and co-lead underwriter with Mackie Research Capital Corp. and is working with a syndicate of underwriters including Haywood Securities Inc.