Charlotte’s Web Holdings, Inc., one of the most well-known CBD product lines on the market, announced this morning that the company has received its approval from securities regulatory authorities in Canada to go ahead with their planned IPO (initial public offering) of the company’s common shares.
Charlotte’s Web plans to offer a total of 14.3 million common shares and a secondary offering of 987,850 common shares, both at a price of $7.00 per share. The company will raise a total of C$100 million dollars by selling shares of their company on the Canadian Securities Exchange (CSE). The company will be trading under the symbol CWEB.
Charlotte’s Web will close the IPO on August 30th, 2018 and has already managed to put together an impressive list of trusts and other companies interested in investing in their company.
Popularity for their non-psychoactive hemp derived Cannabidiol products has risen over the course of the past decade. In 2017, Charlotte’s Web posted sales of US$40 million and in Q1 of 2018. The company sells CBD based tinctures for both humans and pets offered in a number of different concentrations.