Ask yourself why raise $140 million at $2.95 USD = $3.63 CDNTo fund managers that potentially can lose 10's of millions?? Did they not do there reasearch on HEXO ?? I doubt it :)
HEXO Corp. Announces US$140 Million Public Offering
OTTAWA, Aug. 20, 2021 (GLOBE NEWSWIRE) — HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) today announced the pricing of its previously announced overnight marketed public offering (the “Offering”) of units of the Company (the “Units”). The underwriters for the Offering have agreed to purchase 47,457,628 Units at a price of US$2.95 per Unit for total gross proceeds to the Company of approximately US$140 million, before deducting underwriting commissions and Offering expenses.