Cannabis Information Company Leafly Aims To Raise Up To $30M Via Securities Offering

The cannabis information platform Leafly aims to raise up to $30 million via a securities offering that includes debt, convertible debt and options to acquire securities, according to the company’s Wednesday filing with the U.S. Securities and Exchange Commission.

The filing also revealed that the company sold close to $22.9 million of the securities to 33 investors so far, writes Marijuana Business Daily. 

While the filing doesn’t reveal how Leafly plans to use the raised money, the company’s spokesperson told MJBiz Daily it would “continue to stay focused on building out our consumer marketplace” via activities such as “scaling in local markets and ensuring sustained brand dominance on the East Coast as legalization trends accelerate market growth.”

In April, Leafly launched its Leafly Delivery service across seven states, in a response to the booming demand and as a gesture to help companies by offering safer shopping during the pandemic. The new service came as an addition to its Leafly Pickup which had seen orders tripling in March alone. Leafly Pickup is available at more than 1,600 retailers in the U.S., enabling consumers to order online and then pick up and pay at the selected store.

Photo by Daniel Norin on Unsplash