Canopy Growth Corp. CGCCA:WEED said Monday it has entered agreements with institutional investors for a private placement of up to $50 million as it again moves to boost liquidity. The Canadian cannabis company said it is offering 22.9 million units priced at $1.09 for gross proceeds of about $25 million. Investors have an over-allotment option for up to additional 22.9 million units at the same price at any time on or before Nov. 2. Each unit is equal to one common share plus a warrant to acquire an additional share at a price equal to $1.35 for a period of five years. The stock was down 10% premarket, after adding about 12% on Friday after announcing it would move to file bankruptcy for its BioSteel sports drink unit  and narrow the gap for the company’s adjusted losses moving forward.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.