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OrganiGram Holdings Inc (NASDAQ:OGI) shares are trading lower by 19% to $2.17 Wednesday afternoon after the company announced pricing of an overnight marketed public offering.
The offering consists of 7.74 million units priced at C$3.23 each, totaling approximately C$25 million. The underwriters have an option to purchase an additional 1.161 million units within 30 days of the offering’s closing.
Each unit comprises one common share of the company and half of a common share purchase warrant. The warrants can be exercised to acquire one common share at C$3.65 per share for four years after the offering’s closing.
The offering is expected to close around April 2, pending market conditions, regulatory approvals, and compliance with stock exchange rules. Organigram intends to use the net proceeds for growth initiatives and general corporate purposes.
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By now you're likely curious about how to participate in the market for OrganiGram – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of OrganiGram Holdings, which is trading at $2.1 as of publishing time, $100 would buy you 47.62 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, OGI has a 52-week high of $2.92 and a 52-week low of $0.97.
Posted In: OGI
