Flora Growth Announces $30 Million Financing At Discount To Market

Flora Growth (NASDAQ: FLGC) is the latest cannabis sector participant looking to raise cash in the capital markets. The company this morning revealed the pricing of a $30 million public offering of units.

The company will look to sell units at a price of $3.00 per each, with a total of 10.0 million units expected to be sold under the offering. Each unit is to consist of one common share and one half of a purchase warrant, with each warrant valid for a period of five years at an exercise price of $3.75 per share, with warrants immediately exercisable.

An over-allotment option has also been granted, which allows for a 45-day period for the underwriters of the offering to sell an additional 15% of the units under the offering.

A use of proceeds of was not provided.

The offering is slated to close November 23.

Flora Growth last traded at $3.69 on the Nasdaq, but is currently down 33.60% in pre-market trading to $2.45.


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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Silver47 Samples 44.5 g/t Gold, 3,037 g/t Silver & 8.56% Copper At Kennedy Project In Nevada

Related News

Flora Growth Reaffirms Supply Deal After Curaleaf Denial

In an unusual twist of corporate he-said-she-said, cannabis giants Curaleaf Holdings (TSX: CURA) and Flora...

Monday, November 4, 2024, 12:09:00 PM