Sundial Growers Inc. (NASDAQ: SNDL) stock decline in Pre-market session as it Files New Shelf Registration Statement

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Sundial Growers Inc. (NASDAQ: SNDL) saw a dip in the pre-market session as the stock was down -9.35% to $0.475 after it reported that a “universal shelf” registration statement has been filed with the U.S. on Form F-3. The Stock and Exchange Commission requires up to US$200 million for the listing and selling of different securities. The Firm has also submitted a preliminary prospectus supplement for up to US$150 million of the Company’s common stock in respect of a proposed at-the-market equity scheme (the ‘ATM Program’).

The Corporation plans to make use of the ATM Scheme’s gross revenues, if any, to continue retiring its debt and fund future purchases or developments in machinery, services, other undertakings, goods or technology, working capital, and general corporate purposes.

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