Aphria Inc (TSX: APHA) (NYSE: APHA) has secured a significant investment from an institutional investor to the tune of $100 million. The investment, conducted at $7.12 per share, has been made by an undisclosed party, however the entire financing is coming from a single party.
The total financing will see a total of 14,044,944 units issued, which contains both a common share and a half warrant. Each unit, priced at $7.12, will see the attached half warrant have an exercise price of $9.26 for a period of 24 months from the date of closing.
The offering is expected to close January 31, 2020, and will see funds raised put towards international expansion, working capital, and general corporate purposes.
Given the strength of our leadership team, the continued execution of our strategic plan and the robust opportunities we have for growth in the global cannabis industry, we were able to secure this additional capital from a single investor, a significant endorsement of Aphria in these market conditions. We expect this strategic investment to strengthen our balance sheet and propel Aphria forward as we continue to differentiate ourselves in the industry.
Carl Merton, Chief Financial Officer
The strategic investment follows the news last month of Aphria securing an $80 million secured credit facility for its Aphria Diamond facility, as well as the news earlier this week that Aphria One has received EU-GMP certification.
Aphria Inc last traded at $7.36 on the TSX.
Information for this briefing was found via Sedar and Aphria Inc. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
