Cannabis Retail Giant Announces C$30M ATM Offering, Replacing Previous ATM Program
Portfolio Pulse from Jelena Martinovic
High Tide Inc. (NASDAQ:HITI) has secured CA$30 million in financing through an at-the-market equity offering program. The company will use the proceeds to fund strategic initiatives, support existing operations, fund future acquisitions, and for working capital and general corporate purposes. The company's shares traded 1.36% lower at $1.45 per share during the pre-market session on Friday morning.
September 01, 2023 | 1:37 pm
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NEUTRAL IMPACT
High Tide Inc. has secured CA$30 million in financing which will be used for strategic initiatives and future acquisitions. The company's shares traded lower in the pre-market session.
The news of High Tide securing CA$30 million in financing is directly relevant to the company and its stock. The funds will be used for strategic initiatives and future acquisitions, which could potentially boost the company's growth and profitability in the long term. However, the company's shares traded lower in the pre-market session, indicating a short-term negative sentiment among investors. The overall impact on the stock price in the short term is neutral as the positive news of the financing could offset the negative sentiment reflected in the pre-market trading.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100