Today, OrganiGram Holdings Inc. (OTC:OGRMF) (TSXV:OGI) announced that they have officially closed their previously announced short form prospectus offering with full exercise of the over-allotment options. We compiled a breakdown of the important details regarding OrganiGram's deal.
11,339,000 shares of common stock were sold.
The share price was $3.55 CAD per share. This is equivalent to $2.68 USD.
The deal's aggregate gross proceeds were $40,253,450 CAD. This is equivalent to $30,390,283 USD.
The underwriters syndicate was led by Dundee Securities Ltd.
60% of the deal's net proceeds will be devoted to the build out and new construction at its existing facility.
The remaining 40% of the deal's proceeds will be for working capital, general corporate purposes, and future expansion.
For more information and recent marijuana stock news on OrganiGram, check out their company's stock profile in our TSXV Listed Marijuana Stocks Database. Also, be sure to connect with us on social media using the links to the right of this article so you never miss a marijuana stock update. For OrganiGram's press release regarding the financing deal, click here.