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.