On November 5, 2020 Planet 13 Holdings Inc. announced that it has closed a bought deal prospectus offering for aggregated gross proceeds of C$28,804,625. A total of 6,698,750 units of Planet 13 Holdings Inc. were sold pursuant to
the offering, including an aggregate of 873,750 units issued as a result of the full exercise of the underwriters’over-allotment option, at a price of C$4.30 per unit. The Offering was co-led by Canaccord Genuity Corp. and Beacon Securities Limited (collectively, the "Underwriters").
Each unit consists of one common share in the capital of Planet 13 Holdings Inc. and one- half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of C$5.80 per common share for a period of 24 months following the closing of the
offering.
The Underwriters received a cash commission equal to 6.0% of the gross proceeds from the sale of the units pursuant to the offering and compensation options equal to 6.0% of the number of units sold pursuant to the offering. Each compensation option entitles the Underwriters to purchase one common share at a price of C$4.30 for a period of 24 months following closing.
Fasken advised the Underwriters in connection with the Offering with a team that consisted of Rubin Rapuch ( Lead), Bradley Freelan (Corporate Finance), Markus Liik (CorporateFinance), Allison Marks (Corporate Finance), Jordana Keslassy (Corporate Finance) and Gurinder (Gigi) Gujral (Corporate Finance).
the offering, including an aggregate of 873,750 units issued as a result of the full exercise of the underwriters’over-allotment option, at a price of C$4.30 per unit. The Offering was co-led by Canaccord Genuity Corp. and Beacon Securities Limited (collectively, the "Underwriters").
Each unit consists of one common share in the capital of Planet 13 Holdings Inc. and one- half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of C$5.80 per common share for a period of 24 months following the closing of the
offering.
The Underwriters received a cash commission equal to 6.0% of the gross proceeds from the sale of the units pursuant to the offering and compensation options equal to 6.0% of the number of units sold pursuant to the offering. Each compensation option entitles the Underwriters to purchase one common share at a price of C$4.30 for a period of 24 months following closing.
Fasken advised the Underwriters in connection with the Offering with a team that consisted of Rubin Rapuch ( Lead), Bradley Freelan (Corporate Finance), Markus Liik (CorporateFinance), Allison Marks (Corporate Finance), Jordana Keslassy (Corporate Finance) and Gurinder (Gigi) Gujral (Corporate Finance).
Jurisdiction
- Ontario
