Saturday, July 12, 2025

Latest

Organigram Announces $49.0 Million At-The-Market Program

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) this morning announced a new at-the-market program to help bolster it’s cash reserves amid increasing liquidity needs.

The new ATM program is capped at C$49.0 million, which is slightly less than the C$55.0 million program that the company had announced in December 2019. The company revealed within its latest financial release that it had already consumed that entire program, despite listing an overall cash position of just $41.0 million.

Organigram’s at the market program will expire December 25, 2021 at the latest, however given the speed at which the company churned through its last program it will likely be completed much sooner. The funds generated from the offering will be utilized to fund capital projects, general corporate purposes, and to repay indebtedness. Notably, the company was in violation of certain covenants as of the last financials, with the waivers in place valid until May 30. This latest program is likely an attempt by the firm to get this issue corrected.

Organigram Holdings last traded at $1.55 on the Nasdaq.


Information for this briefing was found via Sedar and Organigram Holdings. 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

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Organigram Reports Revenue Growth in Fiscal 2024, But Net Losses Continue

Organigram Holdings Inc. (TSX: OGI) has reported its financial results for fiscal year 2024, ending...

Wednesday, December 18, 2024, 10:18:00 AM

GameStop Raises Gross Proceeds Of $1.13 Billion From ATM Financing

Sometimes volatility is a good thing. If you’re GameStop Corp (NYSE: GME), evidently it’s a...

Tuesday, June 22, 2021, 07:33:14 AM

Democrats Take Aim At “Big Cannabis” In Proposed CAOC Legislation

It appears that the federal legalization of cannabis in the United States might not be...

Tuesday, September 7, 2021, 05:33:00 PM

Organigram Signs Israeli Cannabis Supply Agreement With Canndoc

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) this morning announced that it has entered a supply...

Tuesday, June 9, 2020, 09:30:50 AM

Supreme Cannabis Files For $9.75 Million ATM Offering

The Supreme Cannabis Company (TSX: FIRE) this afternoon filed paperwork with Sedar indicating that the...

Friday, April 24, 2020, 02:26:33 PM