Cannabis-Focused Investment Firm Silver Spike Looks To Raise US$85.0 Million On Its Nasdaq IPO

Management investment firm Silver Spike Investment Corp. (Nasdaq: SSIC) announced on Friday the pricing of its initial public offering on the Nasdaq Stock Market. The company went public on the US-based big board on February 4, 2022 under the ticker symbol “SSIC”.

The offering consists of 6,071,429 common shares at US$14.00 per share for potential total aggregate proceeds of US$85.0 million. The company also gave the underwriters the option to purchase additional 910,714 common shares at the same share price.

Stifel and Piper Sandler are managing the proposed offering as lead underwriters. 

The initial public offering is expected to close on February 9, 2022, subject to customary closing conditions. Net proceeds are expected to be used for its investment objective and strategies, which include debt and investments in the middle-market cannabis companies, and for general corporate purposes.

The newly-organized firm is being managed by health & wellness investment firm Silver Spike Capital.

Information for this briefing was found via Edagr 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.

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