Farmers Edge (TSX: FDGE) has seen further capital inflows in connection with its initial public offering. The firm this morning announced that it has now received an additional $18.8 million in funds as a result of the full exercise of its over-allotment option that was issued in connection with the financing.
A total of 1.1 million common shares were issued under the over-allotment option, bringing in $18,750,150 in additional funds, with common shares of the issuer sold at a price of $17.00 each. The additional sale brings total gross proceeds from the initial public offering, or IPO, to $143.8 million.
Farmers Edge last traded at $16.47 on the TSX.
Information for this briefing was found via Farmers Edge and Sedar. 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.