Sundial Growers Files For US$800 Million At-The-Market Offering

Sundial Growers (NASDAQ: SNDL) this morning filed a prospectus supplement with the US Securities and Exchange Commission. The prospectus outlines the terms for an at-the-market financing that will see gross proceeds of up to $800 million raised for the company.

In layman terms, the equity will see shares of its equity sold directly on the Nasdaq by the firms agents, rather than going through the process of private placements or overnight marketed offerings. The financing is being conducted by ATB Capital Markets and Canaccord Genuity, via an equity distribution agreement dated March 22, 2021.

The offering currently estimates that it will add approximately 519.5 million new shares to the firms share structure, bringing the total outstanding share count to 2,179.7 million based on current market prices of its equity. That figure is subject to change however based on the performance of the firms equity price.

Proceeds from the offering will be used for working capital and general corporate purposes, as well as possible acquisitions, or investments.

The US$800 million at the market equity offering is being conducted under the firms US$1.0 billion shelf prospectus that is currently outstanding.

Sundial Growers last traded at $1.34 on the Nasdaq.


Information for this briefing was found via Sedar and the companies mentioned. 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

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Sundial Growers Pushes Earnings At Last Minute For Second Time

Sundial Growers (NASDAQ: SNDL) has pushed the filing of its fourth quarter earnings for the...

Friday, March 27, 2020, 09:16:24 AM

Sundial Growers Reports Net Revenues Of $9.9 Million, Net Loss Of $134.4 Million

Sundial Growers (NASDAQ: SNDL) reported its first quarter financial results yesterday evening, reporting net revenues...

Wednesday, May 12, 2021, 06:54:00 AM

TGOD Announces $15.0 Million ATM Financing

The Green Organic Dutchman (TSX: TGOD) is looking for further investor dollars. The company this...

Wednesday, December 2, 2020, 05:32:36 PM

Zenabis Enters $60 Million Credit Facility To Pay Off Sundial Debt

Zenabis Global (TSX: ZENA) this morning announced that it has entered into a credit agreement...

Friday, January 22, 2021, 08:21:31 AM

SNDL: Canaccord Reiterates Ratings Following Superette Transaction

On August 31, SNDL Inc (NASDAQ: SNDL) announced that they agreed to acquire all of...

Sunday, September 4, 2022, 11:04:00 AM