Flora Growth Corp., an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, today announced the pricing of its initial public offering of 3,333,333 shares of its common stock, at the high end of the proposed price range of US$5.00 per share to the public for a total of US$16,666,665 of gross proceeds to the Company.
The common stock is expected to begin trading on the Nasdaq Capital Market today under the symbol “FLGC.” The offering is expected to close on May 13, 2021, subject to customary closing conditions. Boustead Securities, LLC acted as the sole underwriter for the offering (the “Underwriter”) with MKM Partners acting as co-Manager. The Underwriter has been granted an overallotment option to purchase up to an additional 500,000 Common Shares in the next 45 days at the offering price of $5.00 per share.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Boustead Securities, LLC, via email: email@example.com or by calling +1 (949) 502-4408 or requested by standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus, when available, relating to the offering may be obtained via the SEC’s website at www.sec.gov.
A registration statement relating to these securities was filed with the Securities and Exchange Commission and was declared effective on May 10, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Flora Growth Corp.
Flora Growth is a cannabis company that will leverage natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.floragrowth.ca or follow @floragrowthcorp on social for more information.