KushCo Holdings Announces $30.2 Million Direct Offering

KushCo Holdings, Inc. KSHB said Thursday it has signed agreements with investors for the purchase and sale of 17.2 million units.

Each unit is one common share with a price of $0.001 per share and a warrant to buy half a common share at an offering price of $1.75 per unit.

These warrants, while directly exercisable, have an expiration date set to five years and an exercise price of $2.25 per share.

The company expects the gross proceeds to reach around $30.1 million before deducting necessary fees and other offering costs, and said it plans to use the net proceeds for corporate purposes.

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The direct offering is expected to close Sept. 30.

KushCo Holdings is a company that provides various services and produces ancillary products meeting the needs of the cannabis and hemp industries.

The stock was falling by 4.59% to $1.63 at the time of publication. 

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