Canopy Growth raises up to $50M in private placement of units at $1.09/unit

Canopy Growth Corp

Initial closing: 22,929,468 units at $1.09/unit for $25M gross proceeds.
Over-allotment option for additional $25M (22,929,468 units) exercisable by Nov 2, 2023.
Each unit consists of one common share and one five-year warrant with $1.35 exercise price.
Net proceeds ~$23M (or ~$47M if full over-allotment) used for working capital/general corporate purposes.
Placement agents: ATB Capital Markets and A.G.P./Alliance Global Partners; 5% cash fee.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Canopy Growth Corp entered into Subscription Agreements with certain institutional investors valued at $50,000,000 (effective 2023-09-18).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: $50,000,000
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, Canopy Growth Corporation (the “Company”), entered into Subscription Agreements (collectively, the “Subscription Agreements”) with certain institutional investors (collectively, the “Investors”) pursuant to which the Company agreed sell to the Investors up to an aggregate of $50,000,000 of securities of the Company in a private placement

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82 material agreements filed in the last 30 days. Browse all material agreements →

Canopy Growth Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-101594

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