February 04, 2021

Sundial Growers Announces Closing of its US$74.5 Million Registered Offering

CALGARY, AB (February 4, 2021) — Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial" or the "Company") announced today that it has closed a best efforts underwritten registered offering of 60,500,000 Series A Units, each consisting of one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share, and 14,000,000 Series B Units (and together with the Series B Units, the "Units"), each consisting of one pre-funded Series B Warrant (together with the Series A Warrants, the "Warrants") to purchase one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share. Each Series A Unit was sold at a price of US$1.00 per Series A Unit and each Series B Unit was sold at a price of US$1.00 per Series B Unit, minus US$0.0001, and the remaining exercise price of each Series B Warrant is equal to US$0.0001 per common share. The Warrants are immediately exercisable and have a term of five years commencing on the date of issuance. Only whole Warrants are exercisable. The exercise price of the Series A Warrants is equal to US$1.10 per common share. All of the securities in the offering are being sold by Sundial.

Sundial's gross proceeds from the offering were approximately US$74.5 million, before deducting underwriting discounts and estimated offering expenses. Following the closing of the offering, Sundial has unrestricted cash of approximately $610 million, in addition to marketable securities and loans receivable of approximately $61 million, and approximately 1.56 billion common shares outstanding.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Latest News

View All

Thursday, Dec 02, 2021

Sunstream IVXX Investment Corp. Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering

Sunstream IVXX Investment Corp. Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering

Read More

Thursday, Nov 11, 2021

Sundial Announces Share Repurchase Program

Sundial Growers (Nasdaq: SNDL) (“Sundial” or the “Company”) announced today that that its Board of Directors (the “Board”) has approved a new share repurchase program (the “Share Repurchase Program”) which authorizes the Company

Read More

Wednesday, Nov 10, 2021

Sundial Reports Third Quarter 2021 Financial and Operational Results

Sundial Growers Inc. (NASDAQ: SNDL) (“Sundial” or the “Company”) reported its financial and operational results for the third quarter ended September 30, 2021. All financial information in this press release is reported in millions of Canadian dollars and represents results from continuing operations, unless otherwise indicated.

Read More
image/svg+xml logo logo Created with Sketch.

Sorry!

Thanks, but unfortunately you need to be legal age to view our website.

Welcome.

You need to be of legal age to view our website.

Please choose a province and enter your date of birth to continue.

Province

Date of Birth

By entering this site you agree to our

TERMS & CONDITIONS and PRIVACY POLICY