HEXO Corp Announces US$20.0 Million Registered Direct Offering
HEXO Corp. - Common Shares (HEXO)
Company Research
Source: GlobeNewswire
OTTAWA, Jan. 17, 2020 (GLOBE NEWSWIRE) -- HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) today announced it has entered into a definitive agreement with institutional investors for the purchase and sale of 11,976,048 common shares at an offering price of US$1.67 per share for gross proceeds of US$20.0 million before deducting fees and other estimated offering expenses, pursuant to a registered direct offering (the “Offering”). The Company has also agreed to issue to the investors common share purchase warrants to purchase 5,988,024 common shares of the Company. The warrants will have a five year-term and an exercise price of US$2.45 per share. The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes, including funding the Company’s research and development to further advance the Company’s innovation strategies. The Offering is expected to close on or about January 22, 2020, subject to the satisfaction of cus
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