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.
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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.
