Aphria Closes $76 Million Investment From an Unidentified Investor
Canadian cannabis giant Aphria (NYSE: APHA) revealed Friday that it has a new major shareholder. The catch is, the public has no idea what or who it is.
The company announced in a press release that it closed a previously announced deal for the entry of this so-called "Significant Investor." It has paid 100 million Canadian dollars ($76 million) for slightly more than 14 million units of Aphria at a price of CA$7.12 ($5.39) per unit.
One unit comprises a single share of Aphria's common stock, plus a warrant for another half-share. Each full-share warrant gives the holder the right to buy one share of stock at a price of CA$9.26 ($7.01), within two years of the deal's closing date. All told, then, this unnamed entity could end up owning in excess of 21 million shares of Aphria. Prior to this deal closing, the company had nearly 253 million shares outstanding, according to Yahoo! Finance.
Source Fool.com
