Sundial Growers Announces US$150 Million At The Market Financing

Sundial Growers (NASDAQ: SNDL) is looking to take advantage of the absolutely wild volume that the equity has seen over the last several days by conducting an at the market financing. Tucked within the announcement that the company has filed a new shelf registration statement this morning, the company announced that it will be conducted a US$150 million ATM financing.

Proceeds from the financing will be used to “continue to retire its indebtedness,” and for the financing of possible acquisitions. The company also named potential uses for the funds as investments in other businesses, products, facilities, equipment or technologies, as well as the standard working capital and general corporate purposes.

While the registration statement has been filed with the SEC, it has yet to become effective, meaning shares cannot yet be sold under the ATM program. Securities are expected to be sold once the registration statement becomes effective. A timeline for this was not provided.

Sundial Growers last traded at $0.77 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Sundial Growers: Canaccord Initiates Coverage With US$0.30 Price Target

This morning, Canaccord Genuity initiated coverage on Sundial Growers (NASDAQ: SNDL) with a US$0.30 price...

Monday, November 16, 2020, 12:12:19 PM

Aleafia Health Announces $30 Million At The Market Financing

Aleafia Health (TSX: AH) this morning became the latest cannabis operator to announce an at-the-market...

Wednesday, June 9, 2021, 08:01:02 AM

Sundial Growers: Fourth Quarter Consensus Earnings Estimates

Sundial Growers (NASDAQ: SNDL) announced that they will be reporting their fourth quarter and year...

Tuesday, March 16, 2021, 11:46:00 AM

Sundial Growers Repays Final Debts, Completes Restructuring

Sundial Growers (NASDAQ: SNDL) has managed a feat that few other cannabis operators have –...

Monday, December 21, 2020, 07:34:10 AM

Sundial Growers Finally Closes Purchase Of Alcanna

Sundial Growers (NASDAQ: SNDL) has finally closed on its much-delayed purchase of retailer Alcanna Inc...

Thursday, March 31, 2022, 08:25:35 AM