Charlotte’s Web Announces $67.5 Million Financing

Charlotte’s Web Holdings (TSX: CWEB) announced this morning that it will be conducting an underwritten offering for gross proceeds of $67.5 million. The financing is being lead by Canaccord Genuity in a syndicate of that includes Cormark Securities, PI Financial, and Eight Capital.

The financing will see 10.0 million units of Charlotte’s Web sold at a price of $6.75 per unit. Each unit consists of one common share and one half common share purchase warrant, exercisable for a period of two years with a strike price of $8.50 per full warrant.

An over-allotment, as always, is present as well, for an additional 1.5 million units, which if exercised in full would increase the offering to $77.6 million. Proceeds from the offering are expected to be used to fund business development and general working capital.

Closing of the offering is expected to occur on June 18, 2020.

Charlotte’s Web closed yesterdays session at $7.32, after having hitting a high of $8.00 intraday.


Information for this briefing was found via Sedar and Charlotte’s Web Holdings Inc. 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.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Silver47 Samples 44.5 g/t Gold, 3,037 g/t Silver & 8.56% Copper At Kennedy Project In Nevada

Cormark Lifts Northern Superior Target To $2.00 On Drilling Success

Related News

Charlotte’s Web Posts US$23.4 Million In Revenue, US$13.9 Million Net Loss For Q1 2021

Charlotte’s Web Holdings, Inc. (TSX: CWEB) released its Q1 2021 financial results this morning, which...

Tuesday, May 11, 2021, 09:30:05 AM

BAT Takes 19.9% Stake In Charlotte’s Web For US$56.8 Million

While most investors are losing interest in the cannabis space, British American Tobacco, or BAT...

Tuesday, November 15, 2022, 08:20:02 AM

Charlotte’s Web Releases 2019 Hemp Harvest Results

Charlotte’s Web Holdings (TSX: CWEB) this morning announced harvest results for the full 2019 season...

Wednesday, March 4, 2020, 09:40:41 AM

Canaccord Genuity Downgrades Charlotte’s Web Price Target To C$7.75 From C$9

Yesterday, Charlotte’s Web Holdings (TSX: CWEB) reported their second-quarter 2020 financials. Consolidated revenue came in...

Tuesday, September 15, 2020, 11:33:48 AM

Charlotte’s Web Sees Q1 Revenue Decline

This morning Charlotte’s Web (TSX: CWEB) released their Q1 earnings and investors will be surprised...

Thursday, May 14, 2020, 09:09:14 AM