Columbia Care To Raise $25.2 Million In Bought Deal Financing

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.

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.

Leave a Reply