Tilray Inc., A Canadian cannabis cultivator, processor, and distributor, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) on the Nasdaq Global Select Market. The ticker symbol “TLRY” will be used, and will offer shares of its Class 2 common stock. The number of shares and price range has not yet been determined.
Tilray also filed paperwork for a proposed IPO in Canada with the securities regulatory authorities in each Canadian province except Quebec.
Tilray operates out of Canada and exports its products to Australia, New Zealand, South Africa, Argentina, Chile, Cyprus, the Czech Republic, Croatia, and Germany. Tilray Medical Cannabis is available as oils, capsules, and dried flower.
Tilray is the first producer in North America
to be GMP certified, the most rigorous standard
that manufacturers of medical products must meet.
Tilray is owned by 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, the largest cannabis information resource in the world.
This move by Tilray comes days after Canadian lawmakers legalized the recreational use of marijuana on July 19th. This legislation allows adults to possess up to 30 grams of marijuana. The law goes into effect on October 17th, and Canada will become the second country to legalize marijuana after Uruguay.