Red Light Holland (CSE: TRIP) is evidently cashed up as a result of the recent rise in its equity price. The company this morning announced that it has raised gross proceeds of approximately $5.0 million from the exercise of warrants and options held by shareholders.
The company has indicated that the majority of warrants issued from the firms most recent financing, which had an exercise price of $0.26 per share, have now been exercised. The company reportedly has a cash and marketable securities position of $12.2 million as a result of the exercises.
Those proceeds however do come at the price of dilution. As of September 30, the company had 43.8 million warrants outstanding along with 11.0 million stock options, with exercise prices ranging from $0.06 to $1.00.
Red Light Holland last traded at $0.28 on the CSE.
Information for this briefing was found via Sedar and Red Light Holland. 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.
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.