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24.01.2020 19:22:00

Aphria Receiving CA$100M Infusion From Strategic Investor

Aphria (NYSE: APHA) is about to get a new major shareholder. The company announced Friday morning that it has entered into an agreement to accept a 100 million Canadian dollars ($76 million) investment from an institutional investor that it did not identify.For its money, this investor will receive just over 14 million units of the company. Each of these units consists of one share of Aphria common stock, plus a warrant entitling the holder to half a share of same. When taken as a whole, each complete warrant will grant the holder the right to buy one share of common stock at a price of CA$9.26 ($7.04) apiece for two years from the deal's closing date.All told, the incoming investor is to pay CA$7.12 ($5.41) per each unit.Continue reading
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