GREY:VGFCQ - Post by User
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CanadianKiaon Jun 16, 2021 9:59am
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Post# 33394733
Get out now and buy back at .5. its not worth 4.21
Get out now and buy back at .5. its not worth 4.21 | The Very Good Food Upsizes Bought Deal Offering | | 2021-06-16 09:57:11 AM ET (MT Newswires) | | | |
| | | | 09:57 AM EDT, 06/16/2021 (MT Newswires) -- The Very Good Food Co. Inc. (VERY.V), a plant-based food technology company, on Wednesday reported the upsizing of its bought deal offering to $20.7 million from over $15 million. Under the revised offering terms, Canaccord Genuity Corp., lead underwriter and sole book-runner, has agreed to buy, on a bought deal basis, about 4.9 million units at $3.70 per unit for gross proceeds of more than $18 million. The company's stock remained unchanged on last look on Wednesday. Each unit will consist of one common share and one-half of one common share purchase warrant, the company said in a news release. The company has agreed to grant the underwriter an over-allotment option to acquire up to an additional 729,750 units to cover any over-allotments, and for market stabilization purposes. If the over-allotment option is exercised in full, an additional $2.7 million in gross proceeds will be raised. The company plans to use the proceeds to fund the start of operations at its production facility in Patterson, Calif., US e-commerce and wholesale expansion efforts, International e-commerce launches and for general corporate purposes. The offering is expected to close on or about July 8. Price: 4.21, Change: 0.00, Percent Change: 0.00 | |