Green Thumb Industries (CSE: GTII) this morning announced that it will be conducting an initial public offering in the United States to raise gross funds of US$100.0 million. The financing comes from a single institutional investor following the firm filing a Form S-1 registration statement on February 8, 2021.
Notably, the institutional investor reached out to the company shortly after the registration became effective, with the investor offering to purchase 3.1 million subordinated voting shares of the issuer at a price of $32.03 per share. Total gross proceeds as a result are pegged at US$100.0 million.
Proceeds from the financing are to be used to increase the firms capitalization and financial flexibility.
The financing is expected to close February 9, 2021.
Green Thumb Industries last traded at $43.13 on the CSE.
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