Jushi Holdings Raises Q4 Revenue Guidance To $33M, Launches Equity Offering,

Cannabis company Jushi Holdings Inc. JUSH JUSHF expects revenue for the fourth quarter of 2020 to be between $32 million and $33 million.

That's up from previous expectations of about $28 million to $30 million.

Boca Raton, Florida-based Jushi also reiterated its 2021 revenue guidance of $205 million to $255 million and 2021 adjusted EBITDA of around $40 to $50 million.

The company will be offering securities in every province of Canada, except Québec, and in the U.S. in a private placement manner to “qualified institutional buyers.”

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Jushi is offering a total of 5.4 million suboridante voting shares at a price of CA$6.50 ($5.10) per share, hoping to raise a total of CA$35.1 million in gross proceeds.

The offering is projected to finalize on or before Jan. 7.

Furthermore, the company will grant the underwriters a 30-day option to buy up to an extra 15% of the offered securities. Co-lead underwriters for the offering are Canaccord Genuity Corp. and Beacon Securities Ltd.

Jushi intends to utilize the collected net proceeds for usual corporate purposes, but also 33% of it to partly support the repayment of the company’s outstanding senior secured notes.