Jushi Raises CA$35.5M Equity 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.
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.
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