Columbia Care (CSE: CCHW) is the latest firm to announce a financing. The company this morning announced that it will be conducting a bought deal financing to raise gross proceeds of $25.2 million in a financing lad by Canaccord Genuity.
The financing will see a total of 2.8 million shares of the issuer sold at a price of $9.00 per share to raise gross proceeds of $25.2 million. No warrant is to be issued in connection with the offering, with the offering expected to be sold primarily to one large institutional investor, however a name was not provided.
An over-allotment option has also been granted by the company, valid until the closing of the offering.
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Proceeds from the financing are to be used for working capital and general corporate purposes.
The financing is expected to close February 25, 2021.
Columbia Care last traded at $9.78 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.
