- Goodfood Market Corp. (FOOD) has closed its public offering of $30M in convertible unsecured subordinated debentures
- The debentures will bear interest at a rate of 5.75 per cent per annum, payable semi-annually on March 31 and September 30 of each year
- The debentures will be convertible into Goodfood common shares at a conversion price of $4.60 per share
- The debentures will mature on March 31, 2027
- Goodfood is a leading online grocery company in Canada
- Shares of Goodfood Market Corp. (FOOD) opened trading at C$3.18
Goodfood Market Corp. (FOOD) has closed its public offering of $30M in convertible unsecured subordinated debentures.
The offering was co-led by Desjardins Capital Markets and National Bank Financial Inc. and included CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., Raymond James Ltd., Stifel Nicolaus Canada Inc. and Acumen Capital Finance Partners Limited.
The debentures will bear interest at a rate of 5.75 per cent per annum, payable semi-annually on March 31 and September 30 of each year, commencing on September 30, 2022.
The debentures will be convertible into Goodfood common shares at a conversion price of $4.60 per share.
The debentures will mature on March 31, 2027, and may be redeemed by Goodfood on or after March 31, 2025. The debentures are listed for trading on the TSE under the symbol FOOD.DB.A.
Net proceeds will be used to accelerate the scaling of Goodfood’s on-demand grocery and meal solutions network, through the signing of multiple incremental new micro-fulfillment centers leases, fund their required capital expenditures as well as their initial start-up and expenses, and for general corporate purposes.
Goodfood is a leading online grocery company in Canada. The company delivers fresh meal solutions and grocery items that make it easy for customers from across Canada to enjoy delicious meals at home every day.
Shares of Goodfood Market Corp. (FOOD) opened trading at C$3.18.
