On July 3, 2020, Planet 13 Holdings Inc. closed a bought deal prospectus offering conducted by a syndicate of underwriters, led by Beacon Securities Limited and including Canaccord Genuity Corp., for aggregated gross proceeds of C$11,521,850.
A total of 5,359,000 units of Planet 13 Holdings Inc. were sold pursuant to the offering, including an aggregate of 699,000 units issued as a result of the full exercise of the underwriters’ over-allotment option, at a price of C$2.15 per unit. 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 to acquire one common share at an exercise price of C$2.85 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$2.15 for a period of 24 months following closing.
Fasken advised the syndicate of underwriters with a team lead by Rubin Rapuch and Bradley Freelan, and including Markus Liik, Allison Marks, Gigi Gujral and, Jordana Keslassy.
A total of 5,359,000 units of Planet 13 Holdings Inc. were sold pursuant to the offering, including an aggregate of 699,000 units issued as a result of the full exercise of the underwriters’ over-allotment option, at a price of C$2.15 per unit. 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 to acquire one common share at an exercise price of C$2.85 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$2.15 for a period of 24 months following closing.
Fasken advised the syndicate of underwriters with a team lead by Rubin Rapuch and Bradley Freelan, and including Markus Liik, Allison Marks, Gigi Gujral and, Jordana Keslassy.
