RE:RE:RE:RE:Request to increase from 990 million to 1,208 billion shares Curaleaf Announces Proposed Offering of Subordinate Voting Shares
NEWS PROVIDED BY
Curaleaf Holdings, Inc. 27 Sep, 2023, 18:10 ET
NEW YORK, Sept. 27, 2023 /CNW/ - Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading U.S. provider of consumer products in cannabis, announced today that it is commencing a marketed offering (the "Offering") of subordinate voting shares (the "Offered Securities") of the Company.
The Offered Securities will be offered in each of the Provinces of Canada, other than Qubec, pursuant to a prospectus supplement to the Company's base shelf prospectus dated December 30, 2022 (the "Prospectus") and in the United States on a private placement basis to "qualified institutional buyers" pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and applicable state securities laws. The prospectus supplement is expected to be filed on September 28, 2023.
The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including requirements of the Canadian Securities Exchange.
Canaccord Genuity is acting as the sole underwriter and bookrunner for the Offering.
The Company is making the Offering: (i) to satisfy a condition required for a potential listing of the subordinate voting shares on the Toronto Stock Exchange ("TSX") and plans to use a portion of the proceeds of the Offering to fund working capital requirements of its international business operated by Curaleaf Holdings International; and (ii) for general corporate purposes of the Company.
Copies of the Prospectus, following filing thereof, may be obtained on SEDAR+ at www.sedarplus.ca under the Company's profile and from Canaccord Genuity Corp., 40 Temperance Street, Suite 2100, Toronto, ON M5H 0B4. The Prospectus will contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus and the other documents the Company has filed under its issuer profile on SEDAR+ at www.sedarplus.ca before making an investment decision.