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Willow Biosciences Announces Exercise of Over-Allotment Option and Completion of Previously Announced Bought Deal Offering
Willow Biosciences Announces Exercise of Over-Allotment Option and Completion of Previous...
About this update from Atlas Energy Corp.
[{"type":"text","content":"\n \n \n \n Willow Biosciences Announces Exercise of Over-Allotment Option and Completion of Previously Announced Bought Deal Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Feb. 19, 2021\n \n /CNW/ - Willow Biosciences Inc. (\"\n \n Willow\n \n \" or the \"\n \n Company\n \n \") (TSX: WLLW) (TSX: WLLW.WT) (OTCQX: CANSF) is pleased to announce that it has closed its previously announced upsized bought deal offering of 17,424,800 common shares (the \"\n \n Common Shares\n \n \") of the Company at a price of\n \n $1.65\n \n per Common Share, which includes 2,272,800 Common Shares issued pursuant to the exercise in full of the over-allotment option, for aggregate gross proceeds of approximately\n \n $28.75 million\n \n (the \"\n \n Offering\n \n \"). Participation in the Offering was comprised primarily of existing cornerstone shareholders and new institutional buyside funds.\n \n \n Net proceeds from the Offering are expected to be used to help access new markets for the Company's cannabinoid portfolio, expedite the commercialization of new cannabinoids, access additional manufacturing capacity, working capital and general corporate purposes.\n \n \n \"We're very pleased with the results of the Offering, the proceeds of which will allow the Company to accelerate capital spending towards execution of our commercialization plan for our existing portfolio cannabinoids and continue to explore opportunities for cannabinoids in development,\" said\n \n Trevor Peters\n \n , President and Chief Executive Officer of Willow.\" This financing saw significant interest from institutional money managers which is a key step in the evolution of the Company. Additionally, the strong cash position of Willow allows us as an organization to have significantly more negotiating leverage with potential business development opportunities. With commercialization of our first cannabinoid expected to occur in Q1 2021, marking the final step in our transition to becoming a revenue generating compa...