NewsMV
In focus for Lexaria Bioscience: a warrant exercise that generated $5.9 million in gross proceeds.
The raise converts existing warrant positions into equity, putting cash on the company's balance sheet while adding newly issued shares to the float.
Gross proceeds means before associated fees and costs, so the amount the company retains falls somewhat below the $5.9 million figure, though the announcement does not disclose the net.
The announcement does not specify how many warrants were exercised, at what strike price, or how many new shares entered the float.
Keep reading