HEXO Corp. HEXO HEXO said Thursday it completed its previously announced registered direct offering with institutional investors, selling 14.97 million common shares with a price of $1.67 per share.
With this offering, the company generated $25 million in gross proceeds, before deducting fees and other offering costs.
In addition, Hexo issued to the investors common share purchase warrants to acquire 7.49 million company shares, setting a five year-term on them and an exercise price of $2.45 per share.
The offering had only one placement agent - A.G.P./Alliance Global Partners.
Hexo's shares traded at $1.60 Thursday morning.
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