Ayr Strategies Launches CA$137M Equity Offering
Multi-state cannabis operator Ayr Strategies Inc. (OTCQX:AYRWF) launched a marketed offering of 4 million voting shares with a price of CA$34.25 per share for total gross proceeds of around CA$137 million.
The company is offering securities in every Canadian province, except for Québec, as well as in the U.S. on a private placement basis to adequate institutional buyers.
The offering, announced Tuesday, Jan. 12, should end on or around Jan. 14.
The lead underwriter for the offering was named Canaccord Genuity Corp.
Toronto-based Ayr further noted it has given the underwriters a 30-day option to buy an extra 15% of the offered securities.
Ayr Strategies plans to utilize the net proceeds of the offering for working capital and usual corporate purposes.
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