Jushi Holdings Raises Q4 Revenue Guidance, Announces Overnight Marketed Offering
Jushi Holdings (CSE: JUSH) has revised its fourth quarter 2020 guidance while announcing an overnight marketed offering this evening. The firm raised gross revenue guidance for the period, while maintaining its prior adjusted EBITDA guidance, as well as its 2020 revenue and adjusted EBITDA guidance.
The company is now anticipating revenues for the fourth quarter of 2020 to be between $32 and $33 million, an increase from the prior guidance of $28 to $30 million. Adjusted EBITDA meanwhile saw its guidance maintained at $2.5 to $3.0 million. The firms revenue guidance of $205 to $255 million for 2021, as well as the adjusted EBITDA guidance of $40 to $50 million for 2021 has been maintained as well.
In terms of the overnight marketed offering, neither pricing nor the overall size of the offering has yet been set. The company revealed that it is expected to be priced in the context of the market, while net proceeds of the offering will see one third of funds utilized to partially repay certain outstanding senior secured notes, with the remainder to be used for working capital and general corporate purposes.
Jushi Holdings last traded at $7.66 on the CSE.
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