#SNDLtothemoon Sundial Growers: The 209% Gain Redditors Saw This Coming - MalkamDior
The following are some of today's most notable mid cap movers of interest ($2 bln - $10 bln market cap), ranked by % change (all stocks over 100K average daily volume).
Mid Cap GainersSNDL (2.93 +77.51%): Surges alongside various cannabis industry names as the industry attracts interest on Reddit forums. At 52-week highs. (Related: TLRY, APHA, ACB...) PACB (48.21 +21.93%): Announced that SB Management, a Softbank (SFTBY) subsidiary, will make an investment of $900 mln in co's convertible senior notes due 2028 to support co's future growth initiatives. SB Management commented that it "believe[s] that [co's] HiFi sequencing will be the de facto standard tool for population genomics fundamentally altering the practice of healthcare." THS (51.03 +20.18%): JANA Partners disclosed a 7.5% active stake in co, indicating that it expects to have additional discussions with co's management and board regarding avenues to resolve shares' undervaluation, among other matters; JANA and its affiliates intend to propose three nominees for election to co's board at co's 2021 annual meeting. Rises to its highest levels since June.
Sundial Growers has priced a best efforts underwritten registered offering of 60,500,000 Series A Units, each consisting of one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share, and 14,000,000 Series B Units, each consisting of one pre-funded Series B Warrant to purchase one common share and one-half Series A Warrant.
Each Series A Unit will be sold at a price of US$1.00 per Series A Unit and each Series B Unit will be sold at a price of US$1.00 per Series B Unit. The exercise price of the Series A Warrants will be US$1.10 per common share. Sundial's gross proceeds from the offering are expected to be approx. US$74.5 mln.