Auxly Closes $20M Bought Deal Public Offering

Cannabis company Auxly Cannabis Group Inc. XLY CBWTF reported Monday it has raised $20 million.

The company completed its bought deal short form prospectus offering, under which it has issued 54.4 million units, with a price of 37 cents per unit, including the full exercise of the over-allotment option.

Each unit consisted of one share and one half of one share purchase warrant, with each warrant enabling the holder thereof to buy one share at a price of 46 cents in the following 36 months from the closing of the offering.

The Toronto-based company noted that the offering was co-led by ATB Capital Markets Inc. and Cantor Fitzgerald Canada Corp., which acted as co-lead underwriters and joint bookrunners.

Auxly plans to use the collected net proceeds for working capital and other purposes.

Courtesy image 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsPenny StocksFinancingMarketsAuxly Completes Bought Deal OfferingAuxly OfferingAuxly Raises $20 Millioncannabis industrycannabis saleslegal marijuanamarijuanamarijuana stocks
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.