Yesterday's announced financings: May 30

May 31, 2023 01:27 PM PST

Here’s your roundup of yesterday's announced equity financings, courtesy of the only database that tracks every financing, every day.

1. NFI Group Inc. (TSX: NFI)

  • Gross Proceeds: $108 million
  • Sector: Electric buses
  • Units issued: 13.13 million
  • Type: Subscription receipts
  • Price: $8.25
  • Warrants: None
  • Agents: BMO Capital Markets, others       
  • Use of Proceeds: Outstanding the debts

Company breakdown:

  • Company that develops electric buses
  • Recently received an order for 346 buses
  • Closed a previous recent financing with Coliseum was for US$150 million

2. Eldorado Gold Corp. (TSX: ELD)

  • Gross Proceeds: $135 million
  • Sector: Precious metals
  • Units issued: 10.4 million
  • Type: Common shares
  • Price: $13.00
  • Warrants: None
  • Agents: BMO Capital Markets       
  • Use of Proceeds: Growth initiatives

Company breakdown:

  • Gold producer developing projects in Turkey, Canada, Greece, and Romania
  • Announced a €‎680 million financing for its Skouries projects in northern Greece in December
  • Has 12.03 million ounces of gold reserves

3. Psyched Wellness Ltd. (CSE: PSYC)

  • Gross Proceeds: US$7.5 million
  • Sector: Wellness
  • Units issued: 100 million
  • Type: Special units; Flow-through units
  • Price: $0.07
  • Warrants: Full; $0.10; Five years
  • Agents: Non-brokered        
  • Use of Proceeds: Working capital

Company breakdown:

  • Researches and produces products using the amanita muscaria mushroom
  • Recently rolled out amanita gummies

4. Fuelpositive Corp. (TSX-V: NHHH)

  • Gross Proceeds: $7.5 million
  • Sector: Clean tech
  • Units issued: 115.38 million
  • Type: Special units
  • Price: $0.065
  • Warrants: Full; $0.09; Three years
  • Agents: Non-brokered        
  • Use of Proceeds: Commercialization

Company breakdown:

  • Clean tech company working to commercialize "green ammonia" which it argues could be more practical than green hydrogen
  • Proceeds from the offering will be used toward demonstration systems for the commercialization of green ammonia

5. Alpha Cognition Inc. (CSE: ACOG)

  • Gross Proceeds: US$6.5 million
    Sector: Biopharmaceuticals
    Units issued: 29.55 million
    Type: Special units
    Price: US$0.22
    Warrants: Half; US$0.31; Three years
    Agents: Non-brokered        
    Use of Proceeds: R&D

Company breakdown:

  • Developing treatments for patients suffering neurodegenerative diseases like Alzheimer's
  • Main focus is ALPHA-1062 for mild-to-moderate Alzheimer's, aiming to get an oral tablet approved by the FDA

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