|Over a week ago|
Hexo 55.6M share Spot Secondary priced at C$0.90 » 09:2405/1905/19/20
Canaccord acted as sole…
Canaccord acted as sole book running manager for the offering.
Hexo announces proposed public offering » 16:5205/1805/18/20
HEXO Corp. announced that…
HEXO Corp. announced that it will be filing a preliminary prospectus supplement to its amended and restated short form base shelf prospectus dated December 14, 2018 relating to a proposed overnight marketed public offering of units of the company. The offering is expected to be priced in the context of the market, with the final terms of the offering to be determined at the time of pricing. The company expects to use the net proceeds from the offering for working capital and other general corporate purposes. Canaccord Genuity Corp. and Canaccord Genuity LLC are acting as the lead underwriters for the offering.
Hexo Corp trading resumes 13:0005/1805/18/20
Hexo announces early conversion option for debentures » 12:5905/1805/18/20
EXO Corp. announced that…
EXO Corp. announced that holders of $29.86M aggregate principal amount of the vompany's 8% unsecured convertible debentures maturing December 5, 2022 have accepted an opportunity offered by the company to voluntarily convert all or a portion of their Debentures for conversion units. Upon completion of the early conversion option, electing debentureholders will receive for the principal amount of their debentures to be converted, units of the company issued at a price of $0.80 per conversion unit, instead of common shares otherwise issuable on conversion of the debentures at the existing conversion price of $3.16 per share or, at the option of the debentureholders, at the market price at the time of maturity, in each case as currently provided for under the debentures. Each conversion unit will consist of one common share and one-half of one common share purchase warrant of the company. Each conversion warrant will be exercisable by the holder to purchase one common share at an exercise price of $1.00 per share for a period of three years from issuance. The conversion shares will be subject to restrictions against resale for a period of one year from issuance as part of the terms of the early conversion option. In addition, the conversion warrants and shares will be subject to resale restrictions ending 4 months and one day from issuance of the conversion warrants under applicable securities laws. The implementation is subject to the approval of the Toronto Stock Exchange and the New York Stock Exchange. The company said it believes the completion of the early conversion option will provide the company with balance sheet flexibility and will reduce annual debt servicing costs.
Hexo Corp trading halted, news pending 12:2605/1805/18/20
Hexo receives NYSE listing notification » 17:0005/1305/13/20
HEXO Corp. announced that…
HEXO Corp. announced that it received notification from the New York Stock Exchange on April 7, 2020 that the Company was no longer in compliance with the NYSE's $1.00 share price continued listing standard as a result of the average closing price of its common shares on the NYSE falling below $1.00 for a consecutive 30 trading-day period. The issuance of the notification was not discretionary and is sent automatically when a listed company's share price falls below the Price Listing Standard. Under the NYSE's rules, the Company can regain compliance with the Price Listing Standard and avoid delisting if, within six months from the date of the NYSE notification, its common shares have a closing price on the last trading day of any calendar month and a concurrent 30 trading day average closing price of at least $1.00 per share. If the Company has not regained compliance by the end of this six month cure period, the NYSE will commence suspension and delisting procedures. In response to the COVID-19 outbreak, the NYSE made a rule filing with the SEC which became effective on April 21, 2020 for relief on the Price Listing Standard which provides for an extension of the cure period until June 30, 2020. As a result of this ruling filing, the Company currently has until December 16, 2020 to restore compliance with the Price Listing Standard. The Company expects to restore compliance with the Price Listing Standard, and to continue to maintain access to a broad range of investors, equity capital and trading liquidity through its NYSE listing. The Company is considering options to regain compliance, which may include a share consolidation, if necessary. The Common Shares will continue to be listed and traded on the NYSE during the applicable cure period, subject to continued compliance with the NYSE's other continued listing standards, under the symbol "HEXO", but the NYSE has assigned a ".BC" indicator to the symbol to denote that the Company is below the NYSE's Price Listing Standard. This indicator will be removed at such time as the Company is deemed compliant with the NYSE's Price Listing Standard.
|Over a month ago|
Molson Coors, Hexo announce JV in Colorado » 09:0104/1504/15/20
Molson Coors (TAP) and…
Molson Coors (TAP) and HEXO (HEXO) have formed a joint venture to explore opportunities for non-alcohol hemp-derived CBD beverages in Colorado. Established in Colorado, the joint venture will be majority owned by Molson Coors and will operate as a standalone entity with its own board of directors, management team, resources and go-to-market strategy. Exploring hemp-derived CBD beverages is part of Molson Coors' strategy to grow beyond the beer aisle with wine and spirits and non-alcohol drinks. Molson Coors and HEXO have another joint venture to produce non-alcohol cannabis-infused beverages for the Canadian market called Truss Beverages. Truss has been preparing for launch, including completion of product formulations, branding and construction of a cannabis beverage production facility in Belleville, Ontario. Truss is expected to launch its first beverages in Canada later this year. All production and distribution for Truss CBD USA will be kept within Colorado state lines since it is one of a few states that has an established regulatory framework for hemp-derived CBD in food and beverages. No hemp-derived CBD products will be produced at Molson Coors facilities.
Largest borrow rate increases among liquid names » 08:4504/1504/15/20
WLL, SDC, PSTI, HEXO, TLRY, CODX, AAOI, MTCH, CGC, AMC
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Whiting Petroleum (WLL) 27.27% +1.76, SmileDirectClub (SDC) 108.96% +1.75, Pluristem (PSTI) 39.34% +0.94, Hexo Corp (HEXO) 101.34% +0.81, Tilray (TLRY) 109.28% +0.59, Co-Diagnostics (CODX) 119.28% +0.42, Applied Optoelectronics (AAOI) 2.66% +0.26, Match Group (MTCH) 12.34% +0.21, Canopy Growth (CGC) 19.33% +0.21, and AMC Entertainment (AMC) 73.34% +0.17.
Hexo price target lowered to C$1.50 from C$2.50 at Alliance Global Partners » 05:2104/1504/15/20
Alliance Global Partners…
Alliance Global Partners analyst Aaron Grey lowered the firm's price target on Hexo to C$1.50 from C$2.50 and keeps a Buy rating on the shares. Despite the company's improved fundamentals in the quarter, liquidity remains a headwind for the stock, Grey tells investors in a research note. However, the analyst believes Hexo has taken steps to improve its long-term profile and position itself for long-term success.
Notable open interest changes for April 9th » 08:5504/0904/09/20
AAPL, BAC, HEXO, SQ
Wednesday's total option volume of 23.2 million contracts resulted in net open interest growth of 2.66 million calls and 3.11 million puts. Apple (AAPL), Bank of America (BAC), Hexo Corp (HEXO) and Square (SQ) saw the greatest growth. Top five new positions opened include 57k Hexo Corp (HEXO) Jan-22 1 calls, 26k Fiat Chrysler (FCAU) Jan-21 11.54 calls, 20k Fiat Chrysler (FCAU) Jan-21 8.54 calls, 20k AT&T (T) Apr-20 31 calls and 20k Amarin (AMRN) Jun-20 5 puts.