Trulieve Looks To Raise Funds In The United States Following Filing Of S-1

Trulieve Cannabis (CSE: TRUL) last night announced that it is conducting a marketed public offering of subordinate voting shares in both Canada and the United States. While a price tag was not placed on the financing, what is known is that the firm is looking to sell 4.4 million shares of its equity.

The offering, despite having few details, is significant for the company in that it marks the first such offering being conducted within the United States. The firm is able to do so following the filing of a Form S-1 with the SEC, also known as a registration statement, which follows the footsteps of industry peer Green Thumb Industries, whom took similar steps earlier this year.

The financing, while not yet priced, is to be lead by Canaccord Genuity, with a total of 4.4 million subordinate voting shares to be sold with no warrant attached. An over-allotment option has also been granted for a further 660,066 shares as well, to bring the total financing to roughly 5.1 million shares. No timeline has been provided for the closing of the offering.

Proceeds from the offering are to be used to fund business development and for general working capital.

Trulieve Cannabis last traded at $56.35 on the CSE.


Information for this briefing was found via Sedar and Trulieve Cannabis Corp. 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Trulieve Revealed To Be Contesting US$35K Fine Imposed Following Cannabis Dust-Related Death

A preliminary inspection report from the U.S. Department of Labor’s Occupational Safety and Health Administration...

Wednesday, October 5, 2022, 10:57:00 AM

Trulieve Sees Canaccord Maintain $35 Price Target Days Before Share Unlock

Trulieve Cannabis (CSE: TRUL) this morning saw Canaccord Genuity reaffirm its speculative buy rating on...

Wednesday, May 13, 2020, 11:20:52 AM

Trulieve Sees Consensus Price Target Tumble After Cutting Guidance

Trulieve Cannabis (CSE: TRUL) reported its second quarter financial results on Wednesday. The company announced...

Thursday, August 11, 2022, 04:39:00 PM

Merger Of The Greats: Stifel Provides Green Thumb, Trulieve Merger Rumour Thoughts

In a note sent to investors this morning, Andrew Partheniou of Stifel GMP headlined, “A...

Thursday, August 27, 2020, 01:31:38 PM

Trulieve Files $750 Million Base Shelf Prospectus

Trulieve Cannabis Corp (CSE: TRUL) has filed a preliminary short form base shelf prospectus, valued...

Wednesday, January 13, 2021, 02:10:41 PM