I'm having trouble grasping the concept of bought-deals. Could someone give me a quick explanation and help analyze the following situation?
"Goodfood Market Corp. ("Goodfood" or the "Company") (TSX: FOOD) is pleased to announce that it has entered into a $30.0 million bought-deal financing (the "Convertible Debenture Financing") of convertible unsecured subordinated debentures (the "Debentures") with a syndicate of underwriters (the "Underwriters") co-led by National Bank Financial Inc. and Desjardins Capital Markets. The Debentures will have a coupon of 5.75% per annum, and a conversion price of $4.70 per Goodfood common share" (link: https://stockhouse.com/news/press-releases/2020/02/06/goodfood-announces-30-million-convertible-debenture-financing-to-invest-in-the)
Is the situation good news or bad news? I thought bought-deals were usually at a discount of current stock price. As I am writing this, the stock is valued at 3.15$/share hence why I am confused. Thanks in advance!