Here's our latest list of notable financings that went free-trading in the money over the past few days. Read on for all the details.
Note: PrivatePlacements.com has NOT received compensation from any of the companies listed below in connection with this message, nor is the writer an investor in any company listed.
1. Curaleaf Holdings Inc. (TSX: CURA)
- Gross proceeds: $16 million
- Number of units: 2.7 million
- Unit type: Subordinate voting shares
- Price per unit: $6.00
- Closing date: Oct. 3, 2024
- Today's share price (Feb. 12): $6.70
- Deal appreciation: ~11.7%
- Warrants: None
Company breakdown
Curaleaf is the world's largest cannabis company, with operations in 19 U.S. states and across Canada, with supply and distribution in Europe as well. The company switched over from the CSE to the TSX in December. Shares of the company spiked in September, only to quickly fall — at the time of the above offering, the stock was near a 52-week low. Following the deal, the stock has steadily climbed, even amid a slight earnings miss.
Over the past few months, Curaleaf has been increasing its footprint, launching in Hudson Valley, New York, acquiring a Polish cannabis company, and opening a second dispensary in Sarasota, Florida. U.S. President Joe Biden has previously promised cannabis reform—a stance he's reiterated on the campaign trail—we haven't seen much movement on that front, though it would certainly be welcome news for companies like Curaleaf.
