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.