Neptune Wellness Says $41.4M Private Placement Will Help Finance M&A Deals

Cannabis company Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) said Thursday it has completed a private placement delivering gross proceeds to the company of $41.4 million.

Both existing and new institutional investors participated, led by Perceptive Advisors. Neptune CEO and President Michael Cammarata and John Mortez, the chairman of the board, invested $5 million as part of this offering.

Upon closing, Neptune issued a total of 9.42 million common shares with a purchase price of $4.40 per share.

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