Canadian cannabis company Sundial Growers Inc. SNDL,
filed for a shelf registration with the Securities and Exchange Commission to issue up to $ 1 billion in bonds over time. Calgary-based Sundial, a now-quoted share of a company that once had a $ 1 billion valuation, said in early February that it had used up its previous shelf after making a series of capital increases the past few months. The new shelf allows the offering of common shares, preferred shares, subscription bonuses, rights and units. The shares fell 11% in the premarket, but gained 363% in the year to date, after the shares became popular with the Reddit investor group that sent shares in the video game retailer GameStop Inc. GME,
and others at dizzying heights in an effort to create a small squeeze in recent weeks. Separately, Sundial said it regained compliance with Nasdaq’s listing rules after its shares closed at $ 1 or more for at least 10 consecutive business days. Cannabis ETF THCX,
gained 96% YTD, while the S&P 500 SPX,
gained 16%.
