RE:RE:fund growth and strategic opprotunities Sounds like a private placement that is sold out before it is announce joh, and not having it impact trading is the way to go...not too mention a good sign of the stength of the company.
There should be some serious action and growth around the corner as this will close by Friday and it looks like ~105mil shares at $.19...one would think they are moving existing shares, not adding to the float.
There is going to material news in the FQ2/21 report and this could mean there is going to be plenty more on or before the report? Beena and team have been very quiet with nose to the grindstone and can only mean handsome reward for those that own. JMHO...Opt
1 hour ago by MT Newswires
04:26 PM EST, 01/25/2021 (MT Newswires) -- The Supreme Cannabis Company, Inc. (FIRE.TO, OTCQX: SPRWF and FRA: 53S1) on Monday launched an overnight marketed public offering of units of the company at a price of $0.19 per Unit for gross proceeds of n ear $20 million. According to a statement, each unit will be comprised of one common share of the company and one half of one common share purchase warrant of the company. Each Warrant will be exercisable to acquire one common share of the company for a period of 36 months following the closing date of the Offering at an exercise price of $0.23 per Warrant Share, subject to adjustment in certain events.
The Offering is expected to close on or about January 29, 2021, and will be subject to market and other customary conditions, including approval of the Toronto Stock Exchange.
In addition, the company intends to grant the Underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares, Warrants or Units as determined by the Underwriters.
The net proceeds from the Offering will be used to fund growth initiatives, as a reserve for strategic opportunities, and for working capital and general corporate purposes.
Price: 0.2100, Change: 0.0000, Percent Change: 0.00
johnale wrote: In an overnight offering, a company with an effective shelf registration statement sells its securities overnight after the market has closed for the day with the plan to publicly announce the completed offering and file a supplement with the SEC, describing the overnight offering, early the next day.
Why would a company restrict its offering to one night?
Doing an overnight offering reduces the offering company’s risk that Wall Street will short a company’s stock depressing the stock price. Investors in an overnight offering agree to buy securities based on market price levels before the rest of Wall Street learns of the offering.
A disadvantage of an overnight offering is that the sales effort is generally highly limited, focused on current investors in the company’s stock because there is little time for marketing to new investors.
So, again we see a tradeoff, with an overnight offering, there’s little opportunity for Wall Street to short stock and depress the price but also little opportunity for the offering company to market the offering widely, especially to new investors.
1 hour ago by MT Newswires
04:26 PM EST, 01/25/2021 (MT Newswires) -- The Supreme Cannabis Company, Inc. (FIRE.TO, OTCQX: SPRWF and FRA: 53S1) on Monday launched an overnight marketed public offering of units of the company at a price of $0.19 per Unit for gross proceeds of n ear $20 million. According to a statement, each unit will be comprised of one common share of the company and one half of one common share purchase warrant of the company. Each Warrant will be exercisable to acquire one common share of the company for a period of 36 months following the closing date of the Offering at an exercise price of $0.23 per Warrant Share, subject to adjustment in certain events.
The Offering is expected to close on or about January 29, 2021, and will be subject to market and other customary conditions, including approval of the Toronto Stock Exchange.
In addition, the company intends to grant the Underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares, Warrants or Units as determined by the Underwriters.
The net proceeds from the Offering will be used to fund growth initiatives, as a reserve for strategic opportunities, and for working capital and general corporate purposes.
Price: 0.2100, Change: 0.0000, Percent Change: 0.00