KushCo Holdings Inc. KSHB has raised $40 million via a registered direct offering.
The cannabis-focused ancillary products and services provider signed agreements with investors for the sale of 24.24 million shares valued at $0.001 per share and warrants to buy up to 9.7 million shares at a price of $1.65 per share, under the offering.
Per the deal, the warrants will be instantly exercisable at a price of $2 per share, and are set to expire in five years since the issuance.
KushCo intends to use the collected gross proceeds to finance its debt and fro standard corporate activities, such as acquisitions, product development, and working capital, among others.
The offering should be closed on or around Feb. 24.
The only placement agent for the offering is named A.G.P./Alliance Global Partners, while for the financial advisors were chosen Roth Capital Partners, and The Benchmark Company, LLC.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.