Cannabis News

Tilray announced the pricing of its IPO on the Nasdaq.

Tilray (NASDAQ:TLRY) announced the pricing of its initial public offering (IPO) on the Nasdaq.

As quoted in the press release:

Tilray, Inc., a vertically-integrated and federally-licensed cannabis cultivator, processor and distributor, today announced the pricing of its initial public offering of 9,000,000 shares of Class 2 common stock. 6,524,000 shares of Class 2 common stock will be offered in the United States and certain other countries except Canada at a price to the public of US$17.00 per share for a total offering size of US$110,908,000 and 2,476,000 shares of Class 2 common stock, which we refer to as Subordinate Voting Shares, will be offered in Canada and certain other countries except the United States at a price to the public of CAD$22.45 per share for a total offering size of CAD$55,586,200. Based on current exchange rate, the total combined offering size is approximately US$153,000,000.00. The shares are expected to begin trading on the Nasdaq Global Select Market tomorrow, July 19, 2018, under the symbol “TLRY.”

In addition, Tilray has granted the U.S. underwriters a 30-day over-allotment option to purchase up to 978,600 additional shares of Class 2 common stock and the Canadian underwriters a 30-day over-allotment option to purchase up to 371,400 additional Subordinate Voting Shares at the initial public offering price, less underwriting discounts. Closing of the offering is expected to occur on July 23, 2018, subject to the fulfillment of customary closing conditions.

Click here to read the full press release.

Source: www.businesswire.com

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