Canadian cannabis giant Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) entered Monday into subscription agreements with certain institutional investors in a private placement offering of 22.93 million units at a price of $1.09 per unit. The aggregate gross proceeds from this offering would amount to approximately $25 million.
The investors also hold an over-allotment option to acquire up to an additional 22.93 million units at a $1.09 per unit for aggregate gross proceeds of $25 million at the discretion of the investors at any time on or before November 2, 2023.
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