Jushi Holdings Receives US$11 Million From Warrant Acceleration
Jushi Holdings (CSE: JUSH) this morning completed the acceleration of outstanding warrants as announced last month. The acceleration, issued in connection with a March 2019 private placement, has resulted in the strengthening of the firms balance sheet.
The acceleration in total saw gross proceeds of US$11 million enter company coffers, with a total of 3.7 million subordinate voting shares being issued. The company as a result now has a reported cash and short-term investment position of $133 million, while also having $89 million of debt on the books.
Each share issued in connection with the warrant had an exercise price of US$3.00 per share, which could be accelerated in the event the company traded above US$4.00 on a volume weighted basis for thirty days.
Jushi Holdings last traded at C$8.38 on the CSE.
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