Shares of Sundial Growers Inc. (SNDL) was trading higher 2.36% to $0.48 in the premarket session. The Healthcare sector firm didn’t announce any new developments however, the gain likely reflected some investors’ continued optimism as of December 21, 2020. Sundial Growers Inc. (SNDL) revealed that it had achieved debt-free status after prepaying the $21.9 million balance of its NRE credit facility. As of today, no debt remains outstanding. Prices are in Canadian dollars unless otherwise noted.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
Sundial has approximately $62 million in current cash and 840 million outstanding common shares. The total prepayments on the Facility are roughly $5 million.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
”At a time when many cannabis companies are burdened by heavy debt, Sundial is proud to announce that we have paid off our entire debt load,” said Zach George, Sundial’s CEO.
Sundial suffered from a cash shortage just two quarters after its IPO, breaching covenants in its senior secured credit facility. Through asset sales, debt for equity swap, capital raises, and cash repayments, we have eliminated $227 million in delinquencies, he added.”
Read More