Non-brokered deal sells 3,298,077 units, C$2.92 million of debentures
By Devika Patel
Knoxville, Tenn., Nov. 5 – OrganiGram Holdings Inc. said it plans a C$6.35 million non-brokered private placement of units and secured convertible debentures.
The company will sell 3,298,077 units of one common share and one half-share warrant at C$1.04 per unit. Each whole warrant will be exercisable at C$1.40 for 18 months. The strike price is an 18.64% premium to the Nov. 4 closing share price of C$1.18.
The C$2.92 million of 6.75% convertibles mature on Dec. 31, 2018 and convert at a ratio of 714.286 shares per C$1,000 of debentures.
OrganiGram is a Vancouver, B.C., medical marijuana producer.
| Issuer: | OrganiGram Holdings Inc.
|
| Issue: | Units of one common share and one half-share warrant, secured convertible debentures
|
| Amount: | C$6.35 million
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 5
|
| Stock symbol: | TSX Venture: OGI
|
| Stock price: | C$1.18 at close Nov. 4
|
| Market capitalization: | C$55.68 million
|
|
|
| Units
|
| Amount: | C$3.43 million
|
| Units: | 3,298,077
|
| Price: | C$1.04
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.40
|
|
|
| Convertibles
|
| Amount: | C$2.92 million
|
| Maturity: | Dec. 31, 2018
|
| Coupon: | 6.75%
|
| Conversion ratio: | 714.286 shares per C$1,000 of convertibles
|
| Warrants: | No
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
