Tilray Inc., a vertically-integrated cannabis cultivator, processor and distributor located in the United States, has officially announced the launch of the company’s initial public offering (IPO) of its Class 2 common stock.
Tilray has filed its Form S-1with the United States Securities and Exchange Commission and has also, officially applied to to list its common stock on the Nasdaq, one of the most prestigious stock exchanges in the world under the ticker symbol TLRY.
Tilray will begin trading its shares to the public between US$14.00 and US$16.00 and is offering 9,000,000 shares of its Class 2 common stock. Cowen, located in the U.S., and BMO Capital Markets, representing the Canadian market, are acting jointly as book-runners for the IPO.
The expectations for the company is to raise close to a total of $1.5 billion during its launch into the public company arena.
Tilray is the first producer in North America to be GMP certified, the most rigorous standard that manufacturers of medical products must meet. The company is owned by private company Privateer Holdings, a private equity group that invests in the legal cannabis industry. Privateer Holdings is headquartered in Seattle, Washington, and has a portfolio that includes Leafly, one of the largest cannabis information resource in the world.
You may be interested
CashCropToday | Joint Venture Interviews Justin Braune Part 1Ricky M - September 18, 2018
In this episode of Joint Venture, Michael Parker sits down with Justin Braine, Blunt Capital Co. Advisor, to discuss bridging the gap between Cannabis & Hemp Entrepreneurs…
CannTrust Completes First Shipment of Cannabis Oil to Denmark Partner STENOCAREEditor - September 18, 2018
CannTrust Holdings Inc. (TSX :TRST ) announced this morning that the company has completed its first international shipment of cannabis oils based products to STENOCARE, a Danish company…
Canopy Growth’s Tweed Farms Receives Additional Licensing for Cannabis ProductionEditor - September 17, 2018
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced this morning that their Tweed Farms cannabis cultivation operation has received an amendment to their license which will approve…