Cannabis-Focused Finance Company Altmore Capital Files For Nasdaq IPO

Specialty finance company Altmore BDC, Inc., also known as Altmore Capital, is looking to go public on the Nasdaq Capital Market. The firm announced today the launch of its initial public offering of 6.67 million common shares.

The firm is targeting the share price between US$14.50 and US$15.50 per share, which puts target proceeds from the offering at US$103.3 million on the high end of the range.

The shares are expected to trade on the Nasdaq big board under the symbol “ABDC”. The underwriters also have a 30-day over-allotment option to purchase additional 1.0 million shares.

The proceeds from the offering are intended for investments in senior secured loans and general working capital purposes.

The finance firm services loans primarily to cannabis operators in the United States, including cultivators, processors, manufacturers, distributors, and retailers.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Shein Reportedly Filed $63 Billion London IPO Amid U.S. Regulatory Hurdles

Online fashion retailer Shein has confidentially filed papers for a potential listing in London, a...

Monday, June 24, 2024, 09:02:00 AM

Wealth Management SPAC Everest Consolidator Acquisition Prices US$150 Million IPO

Special purpose acquisition company Everest Consolidator Acquisition Corporation (NYSE: MNTN.U) went public on Wednesday on...

Friday, November 26, 2021, 01:54:00 PM

Oncology Firm Erasca Eyes US$300 Million IPO

Precision oncology company Erasca Inc. (NASDAQ: ERAS) began trading on the Nasdaq Global Select Market...

Friday, July 16, 2021, 11:20:00 AM

Financial SPAC HCM Acquisition Prices US$250 Million IPO

Special purpose acquisition company HCM Acquisition Corp (Nasdaq: HCMAU) started trading publicly on the Nasdaq...

Friday, January 21, 2022, 02:29:00 PM

Pet Valu Closes IPO Issuing 15.8 Million Shares, Raises $316.3 Million

Pet Valu Holdings Ltd. (TSX: PET) closed its initial public offering today, raising gross proceeds...

Wednesday, June 30, 2021, 11:39:00 AM