Source: The Very Good Food Company.
  • The Very Good Food Company (VERY) has secured a US$6.5M institutional private placement
  • The company will use net proceeds for general working capital purposes
  • The offering is expected to close on or about June 2, 2022
  • The Very Good Food Company produces nutritious plant-based meat and cheese products
  • The Very Good Food Company (VERY) is down by 3.13 per cent trading at $0.31 per share

The Very Good Food Company (VERY) has secured a US$6.5M institutional private placement.

The news follows major retail expansion in the Canadian market.

It will sell 32,500,000 units priced at US$0.20, each comprised of one common share and one purchase warrant.

Each warrant entitles the holder to acquire one share exercisable at US$0.2582 for up to five years from issuance.

The company will use net proceeds for general working capital purposes.

H.C. Wainwright & Co. is acting as the exclusive placement agent.

The offering is expected to close on or about June 2, 2022.

No securities were offered or sold to Canadian residents.

The Very Good Food Company produces nutritious plant-based meat and cheese products.

The Very Good Food Company (VERY) is down by 3.13 per cent trading at $0.31 per share at 10:17 am EST.

More From The Market Online

Coffee prices are brewing a new market reality for investors

Coffee prices are high from weather driven supply disruptions in Brazil and Vietnam, with markets expecting volatility before relief later.
gamestop

GameStop proposes $55.5B acquisition of eBay

GameStop (NYSE:GME) proposed a US$125 per share cash and stock acquisition of eBay (NASDAQ:EBAY), valuing the company at US$55.5 billion.

Loblaw taps Canadian company to scale AI operations

Grocery giant Loblaw (TSX:L) partners with Shakudo, a Canadian technology firm, to better align itself with the benefits of AI.

Bank of Canada holds rates as energy shock and trade risks complicate outlook

The Bank of Canada holds steady with the policy rate unchanged at 2.25 per cent as global risks offset easing core inflation.