Curaleaf Holdings, Inc. (CSE: CURA) is a leading U.S. provider of consumer products in cannabis. It opened trading at the price of $14.50 Over the counter and closed 8.28% higher than the previous close at $14.35. The stock has a market capitalization of 7,540,641,962. Its volume during the last trading session was 2,878,287 in contrast with the 30-days volume of 1,094,592.
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On January 6, 2021, CURAannounced that it is commencing an overnight marketed offering of subordinate voting shares of the Company.
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Under the prospectus supplement to the Company’s existing base shelf prospectus dated November 2, 2020, the Offered Securities will be offered in all provinces other than Québec.
To qualified institutional buyers on a private placement basis in the United States under an exemption from the registration requirements of the United States Securities Act of 1933, as amended. It is expected that the prospectus supplement will be filed on January 8, 2020.
Market conditions will determine the Offering’s final terms, which will be determined when pricing is determined. No assurance can be given as to whether or when the Offering will be completed or as to its actual size or terms. The Canadian Securities Exchange will be required to approve the Offering, in addition to the market and other conditions.
the company also intends to grant the underwriters the right to purchase an additional 15% of the Offered Securities under the proposed Offering.
The Offering’s net proceeds are intended to be used for general corporate purposes and to finance working capital. Canaccord Genuity is the sole underwriter of the Offering.
Furthermore, it is reported that the results of Georgia’s key Senate runoffs on Tuesday are expected to have significant ramifications on cannabis reform on a federal level.