Organigram Holdings (TSX: OGI) (NASDAQ: OGI) appears to be in search of additional funding. The company last night announced that it has filed a preliminary short form base shelf prospectus in Canada, along with an associated shelf registration statement in the United States.
Effectively, the prospectus is for a total figure of C$500.0 million. The company will now as a result of the filing, be eligible to raise up to that figure via the sale of a number of different instruments, which includes common shares, preferred shares, debt securities, subscription receipts, warrants, and units.
The base shelf prospectus is valid for a period of 25 months from the date of filing, with the company not yet indicating how much, if any, funds are to be raised under the prospectus. The prospectus was filed as a means of providing “flexibility for financing options to pursue the corporation’s objectives.”
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Organigram Holdings last traded at $3.79 on the TSX.
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.
