Ayr Strategies (CSE: AYR.a) has priced its overnight marketed offering that was announced yesterday evening. The company as a result will look to raise gross proceeds of C$137.0 million via the issuance of 4.0 million subordinate voting shares.
The overnight marketed offering will see the issuance of securities at a price of $34.25 per subordinate voting share, with no warrant being included within the offering. A 15% over-allotment option has also been granted to the underwriters, valid for a period of 30 days from the date of issuance.
Net proceeds from the financing are to be used for working capital and general corporate purposes. In the announcement of the offering last night, CEO Jonathan Sandelman commented, “While our current plans are already fully funded, this offering will give us flexibility around our current plans and will allow us to be opportunistic in the fast-moving environment we expect going forward.”
Sponsored · Altamira Gold Corp.
The financing is expected to close by January 14, 2021.
Ayr Strategies last traded at $36.80 on the CSE.
Information for this briefing was found via Sedar and Ayr Strategies. The author has no securities or 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.
