Cannabis producer Organigram Holdings Inc. OGI OGI has closed the second of three tranches of the previously announced CA$124,559,674 ($92.3 million) follow-on strategic equity investment by BT DE Investments Inc., a wholly owned subsidiary of British American Tobacco plc, BTI on Tuesday.
Under the second tranche closing, the investor acquired Organigram’s 4,429,740 common shares and 8,463,435 Class A preferred shares at CA$3.2203 per share, for gross proceeds of $30.8 million.
The company said on Tuesday that the remaining 12,893,175 shares subscribed for are due to be issued at the per-share price in the final tranche on or around February 28, 2025.
“With two tranches of the Jupiter pool now funded, combined with our strong balance sheet and targeted investment strategy, Organigram is well on its way to executing on its ambitious growth plan focusing on international, technological and product expansion,” Paolo De…
