CubicFarms announces closing of $16.2 million equity financing

CubicFarms announced the closing of its previously announced equity financing consisting of a bought deal offering of common shares of the company, and a concurrent private placement.

The offering was conducted through a group of underwriters consisting of Raymond James Ltd. as lead underwriter and sole book runner, and Canaccord Genuity Corp., by way of a prospectus supplement to the company’s short form base shelf prospectus dated December 14, 2020.

Dave Dinesen, CubicFarms’ CEO, commented, “Closing this financing is significant for the company as it provides us with meaningful capital to continue executing on our global growth strategy, and represents an entry point into our capital structure for a number of validating investors. We’re very excited about our future, and the opportunity to help break the reliance on long distance, global food supply chains with our “Local Chain” agriculture technology, which will allow local farmers everywhere and anywhere to grow produce or nutritious live green animal feed in close proximity to where food is consumed.”

Click here for all the details of the financing.

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