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Stem Holdings closes 1st tranche of private placement of special warrants

Dec 31, 2018 - SNL Real Estate Daily

Boca Raton, Fla.-based Stem Holdings Inc. raised gross proceeds of C$3.1 million at the close of the first tranche of its brokered and non-brokered private placement of 3,121 special warrants at C$1,000 apiece.

Each special warrant will be exchanged for 1 convertible debenture unit of the cannabis-focused real estate operator and manager. In turn, the convertible debenture unit constitutes of Stem's 8.0% senior unsecured convertible debenture with a C$1,000 principal amount and 167 common ...