Planet 13 Holdings (CSE: PLTH) this morning announced that it is one of the latest US operators to conduct a financing. The company is conducting a bought deal financing, lead by Beacon Securities and Canaccord Genuity, raising gross proceeds of $50.1 million.
The financing will see the company issue 7.2 million units at a price of $7.00 per unit. Each unit is to consist of one common share and one half of a common share purchase warrant, with each warrant containing an exercise price of $9.00 for a period of twenty four months. A 15% over-allotment option has also been granted to the underwriters, which is in effect for a period of 30 days following the close of the financing.
Net proceeds from the financing are to be used for potential acquisitions, working capital, and general corporate purposes.
Sponsored · Selkirk Copper Mines
The financing is currently slated to close on February 2, 2021.
Planet 13 Holdings last traded at $8.05 on the CSE.
Information for this briefing was found via Sedar and Planet 13 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.
