Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cannabis producer Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF) has secured $15 million in financing via its previously announced bought deal prospectus offering of 51.75 million units at 29 cents per unit.
The Calgary-based company said Thursday it has closed the transaction conducted by Eight Capital, Haywood Securities Inc., and Raymond James Ltd, as co-lead underwriters and joint book-runners.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Each unit is comprised of one common share of Decibel and one-half of one common share purchase warrant, which enables the holder to buy one share at 40 cents in three years following the closing date of the offering.
In addition, warrants will be listed and posted for trading on the TSX Venture Exchange under the symbol "DB.WT.A" on Friday, September 17.
The offering includes the full exercise of the over-allotment option granted to the underwriters.
The underwriters received a cash commission equal to $900,450. In addition, the company issued a total of 3.1 million broker warrants to the underwriters, with each warrant being exercisable into one share at the issue price in two years following the closing of the transaction.
The company intends to use the net proceeds of the offering for growth initiatives, working capital and general corporate purposes.
Price Action
Decibel's shares traded 0.65% lower at $0.2049 per share at the time of writing Thursday morning.
Photo: Courtesy of Josh Appel on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.