Charlotte’s Web Holdings announced the pricing for its new underwritten public offering.
Charlotte’s Web Holdings (CSE:CWEB,OTCQX:CWBHF) announced the pricing for its new underwritten public offering.
As quoted in the press release:
Charlotte’s Web Holdings announces the pricing of its previously announced underwritten public offering of an aggregate of 7 million common shares at a price of C$20.00 per share for total gross proceeds of approximately C$140 million. All of the common shares in the offering are to be sold by certain current shareholders. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 15 [percent] of the common shares offered in the proposed public offering on the same terms and conditions.
The offering is expected to close on or about May 15, 2019, subject to the satisfaction of customary closing conditions, including the listing of the common shares on the Canadian Securities Exchange.