Trulieve Prices Public Offering At C$198.1 Million
Trulieve Cannabis (CSE: TRUL) this evening released the pricing of their previously announced public offering of subordinate voting shares. The company also increased the amount of shares to be offered, resulting in an increase to the size of the offering as a whole.
The offering will now see 5.0 million subordinate voting shares of the company sold, up from the initial 4.4 million, with each share priced at C$50.00 each. Gross proceeds are expected to amount to $198.1 million from the offering. An over allotment option has also been granted, which would see an additional 750,000 subordinate voting shares sold under the offering.
Notably, the offering is the first available to investors in the US under a recently filed registration statement. Net proceeds from the offering are to be used to fund business development and general working capital purposes.
Trulieve Cannabis last traded at $54.25 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
