Jushi Holdings To Raise $65.0 Million In Overnight Offering

Jushi Holdings (CSE: JUSH) has priced its overnight marketed offering this morning. The company will look to raise C$65.0 million in the financing, which follows the $35.1 million raised by the company just last month.

The financing will see a total of 6.5 million subordinate voting shares sold at a price of $10.00 per share, with no warrant being included within the financing. A 15% over-allotment option has also been granted in connection with the offering, which is valid for a period of thirty days.

Proceeds from the financing are to be used for potential strategic acquisitions, which reportedly might include the acquisition of a 93,000 square foot facility in Virginia operated by the firms subsidiary. Other potential uses include strategic acquisitions and business expansion opportunities, as well as general corporate purposes and working capital. 33% of the funds will also be used to repay certain outstanding senior secured notes,

The proposed purchase of the facility is currently anticipated to cost approximately US$20.0 million. The acquisition would enable the company to produce a consistent supply of medical products as patient access improves and expands through the planned build-out of the facility.

The financing is currently expected to close on February 12, 2021.

Jushi Holdings last traded at $10.91 on the CSE.

Information for this briefing was found via Sedar 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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