Hexo Corp (TSX: HEXO) (NYSE: HEXO) has completed its previously announced public offering, which has seen the company meet its obligations under current credit facilities. The firm managed to raise $46 million as a result of an over-allotted financing.
The financing saw a total of 59,800,000 units sold at a price per share of $0.77, including 7,800,000 units associated with the over-allotment option. Each unit consists of one common share and one common share purchase warrant, with each warrant enabling having an exercise price of $0.96 and a term of five years.
Funds from the financing are to be used towards working capital and general corporate purposes. Canaccord Genuity acted as the lead underwriter for the financing, which was conducted by a syndicate.
Hexo Corp last traded at $0.51 on the TSX.
Information for this briefing was found via Sedar and Hexo Corp. 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.
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