Hexo Corp (HEXO) raises $40 million by selling 52 million shares
Hexo Corp (HEXO) currently trades at $0.51 and has fallen by 25% today. Hexo Corp announced the pricing of its previously announced underwritten public offering (the “Offering”) of units of the Company (the “Units”) for C$0.77 per Unit. The underwriters for the Offering have agreed to purchase 52,000,000 Units from the Company for total gross proceeds to the Company of approximately C$40 million. Also, the Company has granted the underwriters a 30-day option to purchase up to an additional 7,800,000 Units offered in the Offering on the same terms and conditions.
Based on this information, investorsQ rates this stock 4 out of 10. We give it this rating based on current information written in this article. The high forecast for Hexo Corp is $1.79 and the low is $0.51. Notably, the company’s market cap is $145.56 million with a 52 week high of $8.40 and a 52 week low of $0.35. HEXO went down $0.18 from the previous closing price of $0.69. HEXO has changed in price by -5.84 per share in the last 12 months.
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity.