Organigram Holdings’ (OGI) (
TSX:OGI) reported Wednesday that it has
established an at-the-market equity program directed at raising as much as $49 million.
OGI says it plans to use proceeds from the program to help fund capital projects for general corporate purposes and to repay debt. Raymond James analyst Rahul Sarugaser said Organigram's move to issue shares will help the company improve its liquidity while adding cash without taking on further debt.
Shares of Organigram were largely unmoved at the end of Wednesday's trading day.