Columbia Care (CSE: CCHW) (NEO: CCHW) is the latest US multi state operator to announce a financing following the election results south of the border. The company late last night announced that it will be conducting a bought deal financing to the tune of C$130.0 million.
The bought deal financing will see the company sell 16.2 million common shares of the company, at a price of $8.05 per share. No warrants are being included under the offering. An over-allotment option has been granted to the underwriters, enabling the financing to be expanded by up to 15% for a period of thirty days following the close of the financing.
Gross proceeds from the financing are to be used for working capital and general corporate purposes.
The financing is currently expected to close by January 13, 2021.
Columbia Care last traded at $8.77 on the CSE.
Information for this briefing was found via Sedar and Columbia Care 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.
