- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Hydropothecary Announces Upsize of Previously Announced Offering
The Hydropothecary Corporation (TSXV:THCX) has announced that it has entered into a revised agreement with Canaccord Genuity, Eight Capital and a syndicate of underwriters pursuant to which the underwriters have agreed to purchase on a bought deal basis 32.5 million units of the company at $4 per unit for aggregate gross proceeds of $130 million. …
The Hydropothecary Corporation (TSXV:THCX) has announced that it has entered into a revised agreement with Canaccord Genuity, Eight Capital and a syndicate of underwriters pursuant to which the underwriters have agreed to purchase on a bought deal basis 32.5 million units of the company at $4 per unit for aggregate gross proceeds of $130 million.
As quoted in the press release:
Each Unit will consist of one common share (a “Common Share”) and one half of one common share purchase warrant (each full warrant, a “Warrant”) of the Company (the “Offering”).Each Warrant will be exercisable to acquire one common share of the Company for a period of two years following the closing date of the Offering at an exercise price of $5.60 per common share, subject to adjustment in certain events.
The Company has also granted the Underwriters an option to purchase up to an additional 4,875,000 Units under the Offering at a price of $4.00 per Unit (the “Over-Allotment Option”). If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $149,500,000. The Over-Allotment Option is exercisable, in whole or in part, at any time up to 30 days following the closing date of the Offering.
The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.
The Offering is expected to close on or about January 30, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.