BC-based cannabis cultivation company launches Initial Public Offering

Jul 11 2018, 1:26 am

A BC-based cannabis cultivation company announced this week that it has launched an Initial Public Offering (IPO) and will list on the Nasdaq.

The company, known as Tilray Inc. will be listed under the ticker symbol “TLRY.”

Tilray is offering 9,000,000 shares of Class 2 common stock at an initial price to the public between $18.40 and $21 CAD per share.

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In order to qualify the offering of securities in Canada and to ensure that purchasers in Canada are not subject to restrictions on resale, Tilray has also filed a preliminary prospectus for a proposed IPO in Canada with the securities regulatory authorities in each province of Canada other than the Province of Quebec.

Tilray does not intend to list on any stock exchange in Canada.

Cowen and BMO Capital Markets are acting jointly as book-runners for the proposed IPO. Cowen is acting as the sole book-running manager for the IPO in the United States, and BMO Capital Markets is acting as the sole book-running manager for the IPO in Canada.

Daily Hive StaffDaily Hive Staff

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