Curaleaf Holdings Announces Overnight Marketed Financing Following Democrat Sweep

At least one US multi-state operator is set to take advantage of the bullish sentiment currently present for cannabis firms following a democratic sweep south of the border. Curaleaf Holdings (CSE: CURA) this evening announced that it is conducting an overnight marketed offering for subordinate voting shares.

The securities are being offered under a prospectus filed in November 2020, which at the time was filed for US$1.0 billion, leaving plenty of room for speculation on the size of the final offering. The offering is currently expected to be priced in the context of the market, with further terms likely to be made available tomorrow. An over-allotment option is to be granted with the offering as well.

Net proceeds of the offering have currently been earmarked for working capital and general corporate purposes.

“As the U.S. cannabis industry continues to enjoy tremendous growth, and now with the Georgia results confirming Democratic control of the Senate, we anticipate the acceleration of legalization at the federal level and consequently, newly enhanced opportunities in the sector. [..] With the added balance sheet flexibility this offering will provide, Curaleaf will be increasingly well positioned to leverage potential high-return organic and well as inorganic growth opportunities going forward.”

Boris Jordan, Curaleaf Executive Chairman of the Board

Curaleaf Holdings last traded at $18.15 on the CSE.

Information for this briefing was found via Sedar and Curaleaf Holdings. 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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