Aphria (TSX Venture: APH) issued a press release after the close today indicating a large capital raise. The stock had been halted in advance with an hour of trading remaining.
The equity offering was in line with what CEO Vic Neufeld had shared in a recent interview. The “bought deal” was priced at $1.30 per unit, raising a total of over $10mm with the possibility of expanding to $11.5mm if the underwriters exercise their option. Each unit consisted of a share of stock and a warrant to buy 1/2 a share at $1.75 within the next three years.
The deal is expected to close on or about December 11th.
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