Jushi Holdings (CSE: JUSH) this morning announced the terms of its overnight marketed offering, indicating that the company will be looking to raise C$35.1 million within the financing. The company will look to raise the money via a shares-only offering, with no warrant component included in the financing.
The overnight marketed offering was originally announced last night, at the same time that the company marginally raised its revenue guidance figure for the fourth quarter of 2020, while maintaining EBITDA expectations as well as guidance figures for 2021. The offering as announced will look to sell a total of 5.4 million subordinate voting shares of the company at a price of $6.50 per share, for gross proceeds of $35.1 million. A 15% over-allotment fee has also been granted, valid for a period of thirty days to the underwriters.
Net proceeds from the offering will see up to a third of the total figure go towards partially repaying certain outstanding senior secured notes held by the company. The remainder has been earmarked for the standard working capital and general corporate purposes.
The company has indicated that the offering is expected to close by January 7, 2021.
Jushi Holdings last traded at $7.66 on the CSE.
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