Flora Growth Raises $5M Via Equity Offering

  • Flora Growth Corp FLGC has entered into securities purchase agreements with institutional investors for the purchase and sale of 12.5 million shares.
  • The agreement also includes warrants to purchase up to 12.5 million common shares.
  • The combined purchase price for one common share and one warrant will be $0.40.
  • The aggregate gross proceeds from the offering will be approximately $5.0 million.
  • The company expects to use the offering net proceeds for capital expenditures, increasing operating capacity, working capital, and other corporate purposes.
  • Price Action: FLGC shares are trading lower by 15.94% at $0.3740 on the last check Friday.
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