The Aus Financial Review reports
ASX-listed medicinal cannabis producer and exporter Althea Holdings was getting in front of funds on Friday morning for a capital top-up.
The company had PAC Partners at hand for a $9 million offer, split between a $6 million placement and $3 million share purchase plan, according to terms sent to funds.
The offer was priced at 44¢ a share, which represented a 10.2 per cent discount to Althea’s last close and and a 20.2 per cent discount to the five-day VWAP.
Money raised would be used for sales and marketing, R&D and for inventory, among other things.
Founded in Australia, Althea also has operations in Germany and the United Kingdom and is a licensed producer, supplier and exporter of pharmaceutical-grade
Bids into the offer were due by 10am on Monday.