Sundial Launches Initial Public Offering

Published: July 24, 2019

Sundial Launches Initial Public Offering

Sundial Growers Inc. has launched an initial public offering (“IPO”) of its common shares in the United States and Canada pursuant to a registration statement on Form F-1 previously filed with the United States Securities and Exchange Commission (the “SEC”) and an amended and restated preliminary prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than the Province of Quebec.

Sundial has applied to list its common shares on the Nasdaq Global Select Market (“Nasdaq”) under the ticker symbol “SNDL”. Listing on Nasdaq is subject to the Company satisfying applicable regulatory requirements, including fulfilling all Nasdaq listing requirements.

Sundial is offering 10,000,000 common shares at an initial price to the public estimated to be between US$12.00 and US$14.00 per share. Sundial intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,500,000 additional common shares.

Cowen, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers for the proposed IPO. Barclays and CIBC Capital Markets are acting as bookrunners and Scotiabank is acting as co-manager for the proposed IPO.