DOJA Cannabis greenshoe lifts 8% convertibles to C$17.25 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 28 – Underwriters for DOJA Cannabis Co. Ltd.’s three-year 8% senior unsecured convertible debentures fully exercised their C$2.25 million over-allotment option on Thursday, lifting the total deal size to C$15 million, according to a news release.

As previously reported, the company priced C$15 million of the convertibles on Dec. 7 to yield 8%, up 0% in a bought deal announced prior to the market open.

Each C$1,000 debenture was issued alongside 403 common share purchase warrants with a strike price of C$1.86, according to a company release.

Canaccord Genuity Corp. was the lead bookrunner for the deal.

After four months, the company may force conversion of the notes if the company’s stock trades at a price greater than C$1.86 for any 10 consecutive trading days.

Proceeds will be used for capital projects and general corporate purposes.

DOJA Cannabis is a Kelowna, B.C.-based marijuana lifestyle brand focused on the intersection of the medical and recreational cannabis markets.

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