Jushi's Stock Slightly Up On Announcing It Looks To Raise Up To $500M

Vertically integrated cannabis company Jushi Holdings Inc. JUSH JUSHF announced Thursday that it will raise up to CA$500 million ($401.6million) through offerings of its subordinate voting shares, subscription receipts, debt securities, convertible securities, warrants and units as well as any combination thereof.

Based in Boca Raton, Florida, the company reported that it filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada, which will allow it to offer its securities during the 25 months that the shelf prospectus is effective.

The final short form base shelf prospectus will be filed after the expiry of and will replace the company's existing short form base shelf prospectus, which was filed on Oct. 9, 2020, with certain Canadian securities regulatory authorities.

The move is expected to allow the company to maintain financial flexibility, including responding to significant regulatory improvements and pursuing opportunistic acquisitions.

More recent news from Jushi:

• What's In The Cards For Cannabis MSOs In Q3? Analyst's Thoughts Ahead Of Earnings Season
• Jushi Holdings To Borrow Up To $100M From Sundial Growers' Sunstream
• Analyst Explains Why Jushi Is One Of The Best Cannabis Stocks Among Leading MSOs
• Jushi Is Now Vertically Integrated In Nevada Via Acquisition Of The Apothecarium
• Jushi To Kick Off Sale Of The Bank and Sèche Products In VA, Rubicon Organics Introduces New SKUs

JUSHF Price Action

Jushi Holdings' shares traded 3.303% higher at $4.535 per share on Thursday morning.

Photo: Courtesy of Esteban Lopez on Unsplash