What happened No one got much of a buzz from OrganiGram Holdings (NASDAQ: OGI) stock on Tuesday. The shares fell a steep 23%, following the Canadian marijuana company's announcement that it will float a secondary share issue. So what Tuesday morning, OrganiGram revealed it is issuing 32.5 million "units," consisting of one common share of the company's stock and one half of a single warrant to purchase one common share, at 1.85 Canadian dollars ($1.42) per unit. Tuesday's sell-off dropped the stock price to roughly that level. Each full warrant is exercisable for three years after the closing of the issue. It entitles the holder to buy one share of the cannabis company for 2.50 Canadian dollars ($1.92). The issue is expected to close Thursday, Nov. 12. Image source: Getty Images. A syndicate of underwriters is buying the full issue, in a deal that will earn the company just over CA$60.1 million ($46.2 million) in gross proceeds. The syndicate is led by Canadian investment bank Canaccord Genuity. Over the past few years, secondary share issues have become common in the marijuana industry. Companies in the trade are grappling with a host of challenges; as such they are rarely profitable, and frequently have difficulties with cash flow. Now what This is hardly the first time OrganiGram has floated a new share issue. Plus, it's irritatingly dilutive -- prior to the flotation, the company had 194.5 million shares outstanding. Investors aren't enjoying this stark reminder of the company's struggles with profitability and liquidity. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Learn moreEric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings. The Motley Fool has a disclosure policy.Source