Columbia Care To Raise US$74.5 Million Senior Secured Notes

Columbia Care Inc. (CSE: CCHW) announced Thursday evening that it will be conducting a senior note offering. The offering is to consist of 6.00% senior secured convertible notes that are due in 2025. The company intends to raise up to US$74.5 million in aggregate principal amount.

The senior secured notes will accrue interest payable semi-annually until the maturity date on June 29, 2025. The notes are also convertible to common shares at a conversion rate of 154 common shares for each US$1,000 principal amount, effectively pricing the common shares at US$6.49 per share.

The company said this conversion share price represents a 25% premium over the closing price on June 17, 2021.

The offering is on a “best-effort” basis per the agreement Columbia Care made with a syndicate of agents led by Cannacord Genuity and ATB Capital Markets.

The company expects the offering to close on June 29, 2021, subject to customary regulatory and closing approvals. Proceeds from the offering are to be used for working capital and general corporate purposes.

Columbia Care Inc. last traded at $6.41 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.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Columbia Care to Purchase Colorado Based The Green Solution for US$140 Million

Columbia Care Inc (NEO: CCHW) announced a significant acquisition after market hours today. The firm...

Tuesday, November 5, 2019, 04:39:56 PM

Columbia Care: Analysts Expect $17.2 Million In Q2 EBITDA

Columbia Care Inc. (CSE: CCHW) announced that they will be reporting their second quarter financials...

Tuesday, August 10, 2021, 11:51:00 AM

US Cannabis: Earnings Preview For The Oncoming Fourth Quarter Results

March is turning out to be a busy month in public cannabis, with many of...

Monday, March 8, 2021, 04:10:00 PM

Cannabis Earnings: Cantor Fitzgerald Adjusts Ratings Ahead Of Earnings

Last week, Pablo Zuanic from Cantor Fitzgerald released his second-quarter estimates and updated his 12-month...

Wednesday, August 11, 2021, 09:56:00 AM

Columbia Care Posts Q4 Revenues Of $139.3 Million, Net Loss

Columbia Care (NEO: CCHW) this morning reported its fourth quarter and full year financial results,...

Thursday, March 24, 2022, 09:21:13 AM