QualityStocksNewsBreaks – Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) Closes $8.3 Million Offering, Eliminates Senior Secured Term Loan
Hydrofarm (NASDAQ: HYFM) announced the closing of its previously disclosed registered direct offering of 1,599,400 common shares at $0.905 per share and concurrent private placement of 7,611,575 unregistered common shares or pre-funded warrants and 9,210,975 common stock purchase warrants. The transactions generated approximately $8.3 million in gross proceeds before fees and expenses. Chairman and CEO Bill Toler, along with other company officers, directors and their affiliates, participated on the same terms as other investors. Hydrofarm intends to use the net proceeds for general corporate purposes. ThinkEquity served as sole placement agent and advisor. Concurrent with the closing, Hydrofarm entered into…