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Jan. 24, 2020, 9:29 a.m. EST

Aphria gets C$100 million investment from unnamed institutional investor

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By Ciara Linnane

Canadian cannabis company Aphria Inc. /zigman2/quotes/207425803/composite APHA -2.30% /zigman2/quotes/205566616/delayed CA:APHA -1.73% said Friday it has entered an agreement to receive a C$100 million (76.2 million) investment from an unnamed institutional investor. The investor purchased 14 million units of the company priced at C$7.12 per unit, the company said in a statement. Each unit is comprised on one common share and one-half of one common share warrant, entitling the holder to purchase a share at a price of $9.26 for 24 months after the closing date. Proceeds of the deal will be used to finance international expansion, working capital and for general corporate purposes. U.S.-listed hares rose 3.8% premarket on the news, but are down 17% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.03% has gained 26%.

/zigman2/quotes/207425803/composite
US : U.S.: NYSE
$ 3.83
-0.09 -2.30%
Volume: 5.40M
Feb. 25, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$968.71 million
Rev. per Employee
$147,410
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/zigman2/quotes/205566616/delayed
CA : Canada: Toronto
$ 5.10
-0.09 -1.73%
Volume: 2.08M
Feb. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.29 billion
Rev. per Employee
$190,843
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/zigman2/quotes/210599714/realtime
US : S&P US
3,128.21
-97.68 -3.03%
Volume: 3.13B
Feb. 25, 2020 4:59p
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