fbpx

QQQ
-4.48
382.79
-1.18%
BTC/USD
+ 601.10
48338.92
+ 1.26%
DIA
-2.49
350.67
-0.72%
SPY
-5.78
452.95
-1.29%
TLT
-0.72
150.61
-0.48%
GLD
-0.25
164.28
-0.15%

Jushi Holdings Raises $51M To Support Virginia Facility Acquisition

February 10, 2021 1:32 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Jushi Holdings Raises $51M To Support Virginia Facility Acquisition

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.

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.  

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.


Related Articles

The Week In Cannabis: $1.25B+ In Financings And M&A, Tilray, KushCo, New York And More

The Week In Cannabis: $1.25B+ In Financings And M&A, Tilray, KushCo, New York And More

Below is a recap of the main news related to the cannabis industry and markets for the week of August 27, 2021. Contents read more
Number Of Marijuana Smokers Catch Up To That Of Cigarettes In US - Cannabis Daily Podcast 8/18

Number Of Marijuana Smokers Catch Up To That Of Cigarettes In US - Cannabis Daily Podcast 8/18

Start The Day With The Best Daily Pre-Market Overview Of The Cannabis Space On Today's Episode we covered the following public companies: read more
The Week In Cannabis: Amazon Lobbies In DC, Colombia's New Law, Big IPOs And More

The Week In Cannabis: Amazon Lobbies In DC, Colombia's New Law, Big IPOs And More

Below is a recap of the main news related to the cannabis industry and markets for the week of July 16, 2021. Contents read more
The Week In Cannabis: Federal Legalization, Biden's Drug Czar, Argentina, WADA Vs. The US, And More

The Week In Cannabis: Federal Legalization, Biden's Drug Czar, Argentina, WADA Vs. The US, And More

Below is a recap of the main news related to the cannabis industry and markets for the week of July 16, 2021. Contents read more