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July 18, 2019, 7:17 a.m. EDT

Cannabis extraction company Neptune Wellness raises $41 million

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By Ciara Linnane

Cannabis extraction company Neptune Wellness Solutions Inc. /zigman2/quotes/207537677/lastsale NEPT -7.69% /zigman2/quotes/203840062/delayed CA:NEPT -6.63% said Thursday it has raised $41 million in a private placement with existing and new investors led by Perceptive Advisors. The company issued a total of 9.4 million shares, priced at $4.40 each. Proceeds of the deal will be used to fund the initial payment for the acquisition of SugarLeaf Labs and Forest Remedies LLC, as well as for general corporate purposes. The SugarLeaf deal is expected to close on or before July 31. Cowen was lead and sole U.S. placement agent on the deal with GMP Securities acting as Canadian placement agent. Neptune named Michael Cammarata at its new CEO in early July, replacing Jim Hamilton who stepped down after more than four years in the role. Cammarata was co-founder of wellness brand Schmidt's Natural, now part of Unilever Plc /zigman2/quotes/204685760/lastsale UL +0.81% . Neptune shares were not active premarket, but have gained 93% in 2019, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.66% has gained 19%.

Read the full story:
Aurora Cannabis weighs on sector after BofA downgrade highlights cash burn

/zigman2/quotes/207537677/lastsale
US : U.S.: Nasdaq
$ 1.20
-0.10 -7.69%
Volume: 275,091
March 30, 2020 10:34a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$123.44 million
Rev. per Employee
N/A
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/zigman2/quotes/203840062/delayed
CA : Canada: Toronto
$ 1.69
-0.12 -6.63%
Volume: 42,829
March 30, 2020 10:18a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$171.87 million
Rev. per Employee
N/A
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/zigman2/quotes/204685760/lastsale
US : U.S.: NYSE
$ 49.65
+0.40 +0.81%
Volume: 324,243
March 30, 2020 10:34a
P/E Ratio
12.31
Dividend Yield
3.64%
Market Cap
$57.23 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
2,583.65
+42.18 +1.66%
Volume: 727.30M
March 30, 2020 10:34a
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