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Jushi Holdings Inc. (CSE:JUSH) (OTCQB:JUSHF) priced its overnight marketed offering of a total of 6.5 million subordinate voting shares at a price of CA$10 per share, for total gross proceeds of CA$65 million (US$51 million).
The securities from the offering will be presented in each of the Provinces of Canada, except for Québec, and in the U.S. on a private placement basis.
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Vertically-integrated cannabis company projects for the offering to close on Feb. 12.
Canaccord Genuity Corp. was named the only bookrunner for the offering.
Furthermore, Jushi has provided the underwriters with a 30-day right to buy up to an extra 15% of the offered securities following the offering on the same terms.
The company plans to utilize the collected net proceeds to support its potential strategic activities, such as the purchase of a 93,000 square-foot facility in Prince William County, Virginia, run by the company’s subsidiary. Jushi projects for the costs of the acquisitions to reach around $20 million.
It will also use the net proceeds to fund its other business expansion plans, purchases, and standard corporate practices.
Furthermore, the company plans to utilize up to 33% of the net proceeds to cover its outstanding senior secured notes to some degree.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.