SNDL INC Stock Price, News & Analysis

Sundial Growers announced the completion of a registered offering, raising approximately US$74.5 million. This offering consists of 60.5 million Series A Units and 14 million Series B Units, each priced at US$1.00. Following the offering, Sundial's unrestricted cash totals around US$610 million, supplemented by US$61 million in marketable securities and loans. The company has about 1.56 billion common shares outstanding. The exercise price for Series A Warrants is set at US$1.10 per share.

Sundial Growers has closed a registered offering of 100 million Series A Units and 33.3 million Series B Units, raising approximately US$100 million. Each Series A Unit consists of one common share and a half warrant for US$0.75 each. The company expects to close an additional offering of US$74.5 million. Post-offering, Sundial will have about US$615 million in unrestricted cash and US$57 million in marketable securities. CEO Zach George highlighted the strong liquidity position to explore consolidation opportunities in the cannabis sector.

Sundial Growers announced a registered offering of 60,500,000 Series A Units and 14,000,000 Series B Units, priced at US$1.00 each. The expected gross proceeds from this offering are approximately US$74.5 million, set to close on February 4, 2021. Each Series A Unit consists of one common share and one-half Series A Warrant, while Series B Units include a pre-funded Series B Warrant. With this offering, Sundial will fully utilize its shelf registration statement from January 25, 2021. Canaccord Genuity LLC is the book-running manager of the offering.

Sundial Growers (Nasdaq: SNDL) has announced a registered offering of 100 million Series A Units and 33,333,334 Series B Units, priced at US$0.75 each. The gross proceeds are expected to be approximately US$100 million, aimed at financing potential acquisitions, investments, and working capital. The offering is set to close on February 2, 2021. Each Series A Warrant will have an exercise price of US$0.80 and will be exercisable immediately. The offering will comply with SEC regulations.

The cannabis industry is projected to reach $40.6 billion in global licensed dispensary sales by 2024, with the US contributing approximately $30 billion. Recreational cannabis sales are expected to hit $26.7 billion and medical cannabis $13.9 billion. A focus on cannabis delivery services is emerging as a key growth area. NxGen Brands has acquired an exclusive license for tracking technologies to enhance its cannabis delivery app. Additionally, Sundial Growers launched new premium cannabis derivatives, while HEXO Corp's joint venture Truss CBD USA introduced a sparkling CBD beverage line in Colorado.

Sundial Growers Inc. (Nasdaq: SNDL) has introduced premium cannabis derivative products under its Top Leaf brand, focusing on solventless cannabis extracts. This launch aims to meet increasing consumer demand for high-quality concentrates. The company is expanding its product line, starting with bubble hash and plans for other products like pressed hash and live rosin. All products feature single-strain, fresh-frozen flower, ensuring no additives or fillers. Top Leaf products are currently available in B.C. and Alberta, with future availability planned across Canada.

Sundial Growers (Nasdaq: SNDL) announced that its subsidiary received a principal repayment of $7.0 million on December 31, 2020 as part of a $51.9 million senior secured debt agreement with Zenabis Investments. Despite this repayment, a notice of default was issued to Zenabis for alleged defaults related to the loan terms, which Zenabis is currently disputing.

All amounts are stated in Canadian dollars.

Sundial Growers has completed a $58.9 million acquisition of a special purpose vehicle, funded from its cash reserves of $110 million. This investment secures a senior secured loan from Zenabis Investments, carrying a 14% interest rate and maturing on March 31, 2025. Zenabis is obligated to pay Sundial a royalty based on its net cannabis revenue for 32 fiscal quarters, with terms that vary based on revenue thresholds. Post-investment, Sundial retains approximately $51 million in cash with 919 million shares outstanding.

Sundial Growers (NASDAQ: SNDL) has entered into a licensing agreement with Simply Solventless Concentrates Ltd. for the production of solventless cannabis concentrates at its Rocky View facility. This strategic partnership aims to enhance Sundial's focus on premium inhalables while optimizing costs. Sundial will cultivate at least 75% of the cannabis materials needed for these products. The parties are also negotiating the sale of the Rocky View asset for $5 million, pending due diligence and licensing approval. Initial SSC products are expected to be available by Q2 2021.