OrganiGram Holdings Inc. OGI OGI, a Toronto-based cannabis company, has officially announced the pricing of its overnight marketed public offering.
In collaboration with ATB Securities Inc. as the lead underwriter, OrganiGram is set to offer 7,740,000 units at CA$3.23 ($2.39) each. This decision is poised to inject approximately CA$25 million ($18.5 million) in gross proceeds, signaling a significant leap forward for the company’s financial and growth strategy.
A Closer Look At The Offering’s Structure
The offering includes an over-allotment option, allowing underwriters to acquire up to 1,161,000 additional units. This flexibility aims to stabilize the market post-offering and address potential over-allotments. Also, each unit in this offering comprises one common share and a half warrant, with each full warrant enabling the purchase of one common share at CA$3.65 over the next four years, subject to adjustments.
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