- Raymond James Ltd., Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp. have agreed to purchase 16,000,000 common shares at a price of C$1.25 per share
- CubicFarm has granted the underwriters an over-allotment option
- Net proceeds will be used for technology development, working capital and general corporate purposes
- The offering is expected to close on or about November 24
- CubicFarms is a local chain agricultural technology company
- CubicFarm Systems Corp. (CUB) opened trading at C$1.42 per share
CubicFarm Systems (CUB) is pleased to announce a bought deal public offering for gross proceeds of approximately $20 million.
Raymond James Ltd., Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp. as joint bookrunners have agreed to purchase 16,000,000 common shares at a price of C$1.25 per share.
CubicFarm has granted the underwriters an over-allotment option exercisable up to 30 days from the closing of the offering.
Net proceeds will be used for technology development, working capital and general corporate purposes.
The offering is expected to close on or about November 24, 2021, and is subject to all necessary approvals, including the approval of the TSX.
Arctic Securities LLC has acted as Global Financial Advisor in connection with the offering.
CubicFarms is a local chain agricultural technology company developing and deploying technology to feed a changing world.
CubicFarm Systems Corp. (CUB) opened trading at C$1.42 per share.