- Flora Growth Corp (NASDAQ:FLGC) has entered into securities purchase agreements with institutional investors for the purchase and sale of 12.5 million shares.
- The agreement also includes warrants to purchase up to 12.5 million common shares.
- The combined purchase price for one common share and one warrant will be $0.40.
- The aggregate gross proceeds from the offering will be approximately $5.0 million.
- The company expects to use the offering net proceeds for capital expenditures, increasing operating capacity, working capital, and other corporate purposes.
- Price Action: FLGC shares are trading lower by 15.94% at $0.3740 on the last check Friday.
Investor Sentiment Edges Lower; Dow Jumps Over 100 Points
The CNN Money Fear and Greed index showed a decline in overall market sentiment, but the index remained in the "Extreme Greed" zone on Wednesday.
U.S. stocks closed higher on Wednesday, with the Dow Jones notching a new closing high during the session. The S&P 500 also hovered near its closing record of 4,796.56 recorded during Jan. 2022.
