Last week the HempFusion Wellness Inc (OTCMKTS:CBDHF) stock was in considerable focus among investors and the trend continued on Friday. This past Friday, investors continued to pile on to the stock to send it soaring by 21% and that took the gains for the whole week to 40%.
On Friday the buzz in the stock was primarily triggered by the announcement from the company with regards to a private placement of as many as 8 million units. The units are going to be offered by HempFusion for $0.25 each for gross proceeds of as much as $2 million.
The news about the private placement came as source of excitement for investors since the company also announced that the money was going to be used for the purposes related to marketing activities and general working capital.
Each unit being offered by the company are made up on one share of the common stock in HempFusion and one share warrant. A warrant holder will be able to acquire a common share in HempFusion for $0.50 up until four years from the date on which the offering is closed. The offering is going to be closed by HempFusion on September 12, 2021.