fbpx
QQQ
+ 1.81
292.66
+ 0.61%
DIA
-1.81
302.21
-0.6%
SPY
-0.65
363.79
-0.18%
TLT
-0.49
159.66
-0.31%
GLD
-0.08
169.67
-0.05%

Jushi Raises CA$35.5M Equity Offering

October 21, 2020 1:56 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Cannabis and hemp company Jushi Holdings Inc. (CSE:JUSH) (OTCQB:JUSHF) is poised to raise CA$35.5 million through an overnight marketed offering.

The offering of an aggregate of 10 million subordinate voting shares at CA$3.55 per share is scheduled to close on or about Oct. 23. In addition, it will be offered in each of the Provinces of Canada, except Québec.

The Boca Raton, Florida-based company, said Wednesday it would utilize the proceeds to fund opportunistic acquisitions as well as for general corporate purposes.

Meantime, Jushi upsized and closed a debt financing deal worth $33.3 million in July, ahead of reporting its second-quarter results.

The company saw its revenue increasing by 73% over the quarter to $14.9 million, while posting a negative adjusted EBITDA of $1.2 million. According to its preliminary financial results for the third quarter, its revenue reached $24 million.

Jushi continues to "build depth in the markets where we operate today, while thoughtfully driving operational improvements across our footprint," Jushi chair and CEO Jim Cacioppo said in August.

Last week, the company debuted in California by launching BEYOND / HELLO dispensary in Santa Barbara, it's 11th retail location in the country.

Courtesy image


Related Articles

Pure Sunfarms Inks Supply Deal With Shoppers Drug Mart

Pure Sunfarms opted to supply Shoppers Drug Mart Inc's customers with its cannabis products. The Village Farms International Inc. (NASDAQ: VFF) (TSX: VFF) subsidiary teamed up with the Canadian retail pharmacy chain to provide consumers with Pure Sunfarms' dried flower products. read more

Cannabis Movers & Shakers: Cannabis Growth Opportunity, Bhang, CanaFarma Hemp, Amfil Technologies

Here is a summary of the latest company shakeups within the cannabis industry. 3 Execs Exit Cannabis Growth Opportunity Investment company Cannabis Growth Opportunity Corporation (CSE: CGOC) has parted ways with several executives. read more

Earnings Update: Vireo, Rubicon, Flower, Planet 13, Driven Deliveries, Decibel, Pure Harvest

Vireo Health Revenue Spikes, New Stores To Open By Q1 2021 read more

A Weed-Infused Cooking Class For Thanksgiving? One Cannabis ETF's Unique Marketing Strategy

ETFMG has come up with a very interesting marketing idea. read more

Jay-Z Inks Largest Cannabis SPAC Deal Ever With Subversive Capital, Roc Nation, Caliva, Left Coast Ventures

Music industry mogul Jay-Z is set to join a newly formed cannabis company that's expected to become the largest in California. read more