Numinus Wellness Increases Financing To $15.0 Million
Numinus Wellness (TSXV: NUMI) has increased the size of the bought deal financing that it announced this morning, raising the total gross proceeds intended to be raised from $10.0 million to $15.0 million. The psychedelics firm as a result expects to now sell a total of 22.1 million units of the company.
As we addressed this morning, units will be sold at a price of $0.68 each, containing one common share and one half of a common share purchase warrant. Purchase warrants are valid for a period of 24 months from the date of issuance, and are exercisable at $0.90 per share.
An over allotment option has been granted on the upsize of the offering, enabling the underwriters to increase the offering by up to $2.3 million in gross proceeds. If exercised in full, an additional 3.3 million units of the company will be sold. The over allotment option is good for a period of 30 days following the closing date.
The offering is expected to close December 29, with the use of proceedings including a laundry list of items focused on expanding the firms research as well upgrading and expanding its facilities along with general working capital purposes.
Numinus Wellness last traded at $0.77 on the TSX Venture.
Information for this briefing was found via Sedar and Numinus Wellness. 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.
