Sundial Growers Announces Financing For US$100 Million

Sundial Growers (NASDAQ: SNDL) is capitalizing heavily on its recent popularity, with the announcement this morning that it is conducting a US$100 million registered offering. The offering is to consist of two classes of units to be sold.

The first unit, referred to as Series A, is to consist of one common share and one half Series A warrant. The company intends to sell 100 million Series A units, at a price of US$0.75 each. Each warrant offered under the Series A units will have an expiry of five years from the date of issuance and an exercise price of US$0.80 per share.

In addition to the Series A units, the company will look to sell 33.3 million Series B units. Each Series B unit is to consist of one pre-funded warrant, which will enable the holder to purchase one common share and one half of a Series A warrant. Each Series B unit will be sold for US$0.75, minus US$0.0001, with the remaining exercise price equaling US$0.0001 per common share.

Proceeds from the financing are to be used for the financing of possible acquisitions, or investments in equipment, facilities, assets, debt or equity of other business, products or tech, along with working capital and general corporate purposes.

The financing is expected to close February 2, 2021.

Sundial Growers last traded at $0.82 on the Nasdaq.


Information for this briefing was found via Sedar and Sundial Growers. 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

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Sundial Makes Multiple Executive Changes Months After Going Public

Sundial Growers (NASDAQ: SNDL) is making key management changes, only months after its go public...

Wednesday, October 23, 2019, 09:15:39 AM

Sundial Growers Shareholders Approve Share Consolidation

Sundial Growers (NASDAQ: SNDL) announced the results of its annual shareholder meeting this morning, reporting...

Thursday, May 21, 2020, 08:33:53 AM

Sundial Growers Begins Unloading Shares Of Indiva

By all accounts, it appears that Sundial Growers (NASDAQ: SNDL) has a rather loose strategy...

Wednesday, October 20, 2021, 07:49:04 AM

Nova Cannabis Reports Increased Revenue, Wider Losses As Sundial’s Alcanna Acquisition Gets Extended

Nova Cannabis (TSXV: NOVC) reported today its 2021 financial results, highlighting an annual revenue of $134.4...

Monday, March 21, 2022, 10:58:00 AM

Sundial Growers Reports Q2 Net Revenues Of $9.2 Million, Net Loss

Sundial Growers (NASDAQ: SNDL) last night filed its second quarter financial results. The company managed...

Friday, August 13, 2021, 08:04:12 AM