Home Equities Score HEXO Corp. (HEXO) stock price is rising but why?

HEXO Corp. (HEXO) stock price is rising but why?

HEXO Corp (HEXO) an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis demand, announced it has closed an offering worth US$360,000,000 aggregate principal amount of senior secured convertible notes directly to an institutional buyer and some of its affiliates or linked funds. HEXO stock price soared adjacent to the news.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

At last check, shares of HEXO Corp. (HEXO) were up 4.75% at $6.84. HEXO stock closed the last session at $6.53, increasing 2.51% or $0.16. Shares of the company fluctuated between $6.23 and $6.54 throughout the day. HEXO shares have risen by 139.90% over the last 12 months, and they have moved up by 12.39% in the past week.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

Public Offering of Senior Secured Convertible Notes

The Senior Secured Convertible Notes were sold at a selling price of US$327,600,000 or almost 91.0% of their principal amount. The Maturity date of the notes is May 1, 2023. In accordance to some limitations, the Notes may be convertible into freely tradeable common shares of the company, at the option of the Purchaser and, subject to terms and limitations, at the option of  HEXO

If not priorly converted, all principal ‎repayments of the Notes will made be at a price equivalent to 110% of the face value of the Notes being ‎repaid‎. The Notes will not bear interest except upon the occurrence of an unforeseen circumstance.

HEXO is anticipated to use mainly all of the net proceeds from the Offering to fund the potential acquisition, of a leading Canadian licensed manufacturer. The Company has not yet entered into a confirmed agreement for the Acquisition.

Although negotiations between the companies are taking place, the ‎Target Business is not ready to enter into a definitive agreement for ‎the Potential Acquisition ‎untilHEXO has displayed adequate cash resources on ‎hand to suffice the ‎expected cash portion of the buying price.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion.

Senior Secured Convertible Notes offering worth US$360,000,000 combined with lucrative acquisition’s has surpassed shareholder expectation, with HEXO stock price rising immensely.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

Roblox Corp. (NASDAQ: RBLX) stock falls during pre-market trading session. What’s happening?

Roblox Corp. (NASDAQ: RBLX) stock gained by 2.28% at last close while the RBLX stock price declines by 8.13% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

SPI Energy Inc. (SPI) stock surged in the current market trading. Here’s the update

SPI Energy Inc. (NASDAQ: SPI) stock soars by 15.42% during the current market trading session. SPI Energy is an international renewable energy company that...

Related News

Ocugen Inc. (OCGN) stock surged during pre-market trading session. Here’s what you should know?

Ocugen Inc. (NASDAQ: OCGN) stock gained by 2.12% at last close while the OCGN stock price soars during pre-market trading by 4.95%. Ocugen, Inc....

Avenue Therapeutics Inc. (ATXI) stock plunged during pre-market trading. What’s behind this?

Avenue Therapeutics Inc. (NASDAQ: ATXI) stock declined by 28.27% at last close while the ATXI stock price falls during pre-market as well, by 8.94%....

Unique Fabricating Inc. (UFAB) stock gains during pre-market trading. Let’s figure out why?

Unique Fabricating Inc. (NASDAQ: UFAB) stock declined by 1.21% at the last close while the UFAB stock price tends to rise by 40.67% in...

Torchlight Energy Resources Inc. (TRCH) stock soars during after-hour session. Let’s see why?

Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock gained by 14.74% at last close while the TRCH stock price further rose by 16.48% in the...

Orphazyme A/S (ORPH) stock is Popping High in Pre-Market today: Here’s to know Why?

Shares of Orphazyme A/S (ORPH) stock were popping high in the pre-market today on June 14, 2021, after dropping with more than half of...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam