Willow Biosciences Increases Bought Deal Financing To $25.0 Million

Late last night, Willow Biosciences (TSX: WLLW) announced the upsizing of its bought deal financing following strong demand. The company has seen its financing grow from $20.0 million to that of $25.0 million in gross proceeds that will be raised.

The financing, lead by Eight Capital and BMO Capital Markets, will see a total of 15.2 million shares of the company sold at a price of $1.65 per each, raising gross proceeds of $25.0 million. No warrants are included in the offering, while a 15% over-allotment option has also been granted in connection with the financing.

Proceeds from the financing are to be used for helping access new markets for the firms cannabinoid portfolio, accessing additional manufacturing capacity, expediting the commercialization of new cannabinoids, and working capital and general corporate purposes.

Willow Biosciences last traded at $1.91 on the TSX.


FULL DISCLOSURE: Willow Biosciences Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Willow Biosciences Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Willow Biosciences Looks To Launch Biosynthesized THC In Canadian Market

Willow Biosciences (TSX: WLLW) this morning had a major announcement, with the company announcing that...

Tuesday, January 19, 2021, 09:04:44 AM

Willow Biosciences Completes Study On Use Of CBG On Skin

Willow Biosciences (TSX: WLLW) appears to be backing up its proprietary IP with clinical trials....

Tuesday, April 20, 2021, 07:07:08 AM

Willow Biosciences To Raise $20.0 Million In Bought Deal Financing

Willow Biosciences (TSX: WLLW) this evening announced that it will be conducting a bought deal...

Thursday, February 11, 2021, 06:10:22 PM

Willow Biosciences: First Commercial Fermentation Of CBG Completed – The Daily Dive

Today on the Daily Dive, we sit down with that of Trevor Peters, CEO of...

Wednesday, March 31, 2021, 01:30:00 PM

Willow Biosciences Completes Warrant Acceleration, Boasts $48.4 Million Cash Position

Willow Biosciences (TSX: WLLW) this morning provided an update on its acceleration of outstanding common...

Wednesday, March 3, 2021, 07:40:32 AM