good natured Products Upsizes Bought Deal Offering

good natured Products Inc. GDNP amended the terms of its previously announced offering of units.
Under the amended terms, a syndicate of underwriters has agreed to purchase 22.5 million units for C$0.40 per unit on a bought deal basis for aggregate gross proceeds of C$9 million.
Each unit will consist of one common share and one-half of one common share purchase warrant.
The company intends to use the net proceeds to fund the acquisition of FormTex Plastics Corporation, working capital, and initiatives to improve its operational efficiency.
The company expects the closing of the offering to occur on or about May 12, 2022.
Price Action: GDNP shares closed lower by 11% at C$0.40 on TSXV on Thursday.