Post by
lou64 on Aug 09, 2024 11:54am
ATM
Canopy announces ATM 250 million bucks June 6 th opens 10.21 cad ... today trades mid 8 cad
Question
Since company has not provided an update which leads investors to believe Canopy has not fulfilled the amount needed ?
Then there will be more shares dilution happening because of poor earning results putting pressure on share price ... This leaves existing shareholders with prospects of lower value for their Canopy investment
Comment by
HighTime20 on Aug 09, 2024 12:50pm
46M raised through ATM Q1. They will surely use every bit of the 250M they can raise through ATM in my opinion. From financials: "As part of the ATM Program, during the three months ended June 30, 2024, the Company sold 4,747,064 common shares for gross proceeds of $46,291 (three months ended June 30, 2023 - no equity financings)."