CubicFarm Systems announces biggest deal to date
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  • CubicFarm Systems Corp. (CUB) has announced the price and terms of its overnight marketed public offering previously announced on May 26, 2022
  • The company will issue convertible debentures and common shares for gross proceeds of up to $10 million
  • The net proceeds of the offering will be used to support working capital, research and development and business development
  • CubicFarm is a leading local chain agricultural technology company developing and deploying technology to feed a changing world
  • CubicFarm Systems Corp. was down 7.018 per cent, trading at $0.53 at 10:42 AM ET

CubicFarm Systems Corp (CUB) has announced the price and terms of its overnight marketed public offering.

The company will issue unsecured convertible debenture units priced at $1,000 per debenture and common shares priced at $0.55 per common share for total gross proceeds of $10 million.

The offering is being led by Raymond James Ltd. and Canaccord Genuity Corp. as joint bookrunners on behalf of a syndicate of agents, including Stifel Nicolaus Canada Inc. and Roth Canada Inc.

Each debenture unit will include one 8 per cent unsecured convertible debenture and 400 common share purchase warrants.

Each warrant entitles the holder to acquire one additional share for $0.71 for 36 months following the closing of the offering.

The net proceeds of the offering will be used to support working capital, research and development and business development.

CubicFarm is a leading local chain agricultural technology company developing and deploying technology to feed a changing world.

CubicFarm Systems Corp. was down 7.018 per cent, trading at $0.53 at 10:42 AM ET.


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