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Organigram Announces Closing of $115 Million Convertible Debenture Bought Deal Financing
Organigram Announces Closing of $115 Million Convertible Debenture Bought Deal Financing ...
About this update from Organigram Global Inc.
[{"type":"text","content":"\n\n\n\nOrganigram Announces Closing of $115 Million Convertible Debenture Bought Deal Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONCTON, NB, Jan. 31, 2018\n\n\n\nProceeds to support strengthening position within domestic and global cannabis markets\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONCTON, NB, Jan. 31, 2018 /CNW/ - Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF) (the \"Company\" or \"Organigram\"), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce that it has closed its previously announced short form prospectus offering of convertible unsecured debentures of the Company (the \"Convertible Debentures\"), on a bought deal basis, including the full exercise of the over-allotment option. As such, a total of 115,000 Convertible Debentures were sold at a price of $1,000 per Convertible Debenture, for aggregate gross proceeds of $115,000,000 (the \"Offering\"). The Offering was completed by a syndicate of underwriters led by Eight Capital, and including Canaccord Genuity Corp., GMP Securities L.P. and Mackie Research Capital Corporation.\n\n\n \n \n\n \nEach Convertible Debenture has a maturity date of January 31, 2020 (the \"Maturity Date\") and will bear interest from the date of closing at 6.00% per annum, payable semi-annually on June 30 and December 31 of each year commencing on June 30, 2018.  Each Convertible Debenture is convertible, at the option of the holder, into common shares of the Company (\"Common Shares\") at any time prior to the close of business on the earlier of: (i) the business day immediately preceding the Maturity Date, and (ii) if  subject to redemption in the event of a change of control, the business day immediately preceding the payment date, at a conversion price of $5.42 per Common Share (the \"Conversion Price\"), subject to adjustment in certain events and to forced conversion by the Company in accordance with the indenture gove...