Probably not the best time to be shopping around for money. MJ Biz report Canadian cannabis producer Tilray on Thursday announced a share offering to raise $90.4 million, which the Nanaimo, British Columbia company says will be used for general corporate purposes.
Tilray priced 7.25 million class 2 common shares – and 11.75 million prefunded warrants to purchase common shares – at $4.76 per share.
That is a 20% discount to the previous day’s closing price of $5.95.
The offering is expected to close March 17.The offering comes with additional warrants, exercisable six months after issuance at $5.95 per share, with a term of five years.