HEXO Corp. (TSX: HEXO; NYSE: HEXO) announces that it will be filing a preliminary prospectus supplement to its amended and restated short form base shelf prospectus dated December 14, 2018 relating to a proposed underwritten public offering of units of the Company.
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis.
The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including approvals of the Toronto Stock Exchange and the New York Stock Exchange.
In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions.
The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes.
Canaccord Genuity Corp. and Canaccord Genuity LLC are acting as the lead underwriters for the Offering.
The Preliminary Supplement will be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada, and with the U.S. Securities and Exchange Commission as part of the Company’s registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System. The Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement and the other documents the Company has filed before making an investment decision.
You may also like
