Who pays $8 million at $0.21 and here we are at $0.14.5?? SMH
VIVO Cannabis Announces Closing of $8 Million Overnight Marketed Public Offering Including Full Exercise of Over-Allotment Option
Friday, February 26, 2021, 9:59 AM ET
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 26, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) ("VIVO" or the "Company") announced today the closing of its previously announced overnight marketed public offering (the "Offering") of 38,333,334 units of the Company (each, a "Unit" and, collectively, the "Units") for aggregate gross proceeds of approximately $8 million, including the full exercise of the over-allotment option granted to the underwriters in connection with the Offering.
Each Unit was sold for $0.21 and was comprised of one common share of the Company (each, a "Common Share") and one half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (a "Warrant Share") until February 26, 2024 at an exercise price of $0.26 per Warrant Share, subject to adjustment in certain events.