TerrAscend Corp., a North American marijuana multistate operator, plans to raise $15 million in two private placements.
The proceeds will be used to qualify the company to uplist to the Toronto Stock Exchange, the acquisition of medical cannabis dispensaries in Maryland and for “general corporate purposes,” according to a news release.
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One private placement will be an equity offering of 5 million units priced at $1.50 units, for a total value of approximately $7.5 million.
According to the release:
Each unit consists of one common share of the company and half of one common share purchase warrant. The price is equal to a 7.4% discount to the closing price of the common shares on the Canadian Securities Exchange on June 14. Each warrant will allow the holder to acquire one common share at a price of $1.95 per common share for 24 months after
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