SEDAR INFO ON BOUGHT DEAL AT 5$ CLOSING FEBRUARY 24After researching for info on Bought Deal, I can only conclude that there is no "holding period" attached to the 5$ shares.
This should mean that 10 million shares could be dumpded on the open market for a 30% profit
(if sold at 6.50$) anytime after February 24 (the closing date).
Am I wrong ?
SEE SEDAR WEBSITE :
Bought Deal
Offering of Common Shares by way of a Short Form Prospectus Issuer: Aphria Inc. (the “Company”). Offering: 10,000,000 Common Shares (the “Common Shares”) of the Company. Offering Price: C$5.00 per Common Share. Offering Size: C$50,000,000 (C$57,500,000 in the event that the Over-allotment Option is exercised in full). Type of Transaction:
Bought deal offering by way of a short form prospectus, subject to the underwriting agreement, to be filed in the provinces of Canada, other than the Province of Quebec. The Common Shares may be offered and sold in the United States pursuant to the exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), provided by Rule 144A thereunder or Rule 506(b) of Regulation D thereunder or in such other manner as to not require registration under the U.S. Securities Act. The Common Shares may also be offered in those jurisdictions outside of Canada and the United States as agreed to by the Company and Clarus Securities Inc.
Over-allotment Option: The Underwriters shall have an over-allotment option, exercisable in whole or in part, for a period of 30 days from and including the Closing Date to purchase up to an additional 1,500,000 Common Shares for additional gross proceeds of C$7,500,000 on the same terms and conditions as the Offering. Use of Proceeds:
The Company expects that 80% of the net proceeds of the Offering will be allocated towards the currently unfunded portion of Part IV Expansion, with the balance being allocated towards strategic investments and general working capital. Syndicate: Clarus Securities Inc. as lead underwriter and sole bookrunner Fees:
A cash fee equal to 5.75% of the gross proceeds of the Offering. February 6, 2017 Eligibility: Eligible for investment in RRSPs, RRIFs, RESPs, DPSPs, and TFSAs. Listing: The Common Shares currently trade on the TSX Venture Exchange under the symbol “APH”.
Closing Date: On or about February 24, 2017.
U.S. Notice: The Common Shares have not and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold in the United States unless the Common Shares have been registered under the U.S. Securities Act and any applicable state securities laws, or in compliance with the requirements of an exemption therefrom.