Flora Growth Corp. Announces Closing of $3.6 Million Registered Direct Offering
Flora Growth Corp. (NASDAQ: FLGC) has announced the closing of a $3.6 million registered direct offering to institutional investors. The company sold 2,850,000 Common Shares at a price of $1.25 per share. The proceeds will be used for general corporate purposes and working capital.
The offering was conducted through Aegis Capital Corp. as the Exclusive Placement Agent and was made pursuant to an effective shelf registration statement on Form S-3. The transaction was supported by legal counsel from Dorsey & Whitney LLP for the Company and Kaufman & Canoles, P.C. for Aegis Capital Corp.
Flora Growth Corp. (NASDAQ: FLGC) ha annunciato la chiusura di un offerta diretta registrata di 3,6 milioni di dollari per investitori istituzionali. L'azienda ha venduto 2.850.000 azioni ordinarie a un prezzo di 1,25 dollari per azione. I proventi saranno utilizzati per scopi aziendali generali e capitale circolante.
L'offerta è stata gestita tramite Aegis Capital Corp. in qualità di Agente di Collocamento Esclusivo ed è stata effettuata ai sensi di un efficace modulo di registrazione shelf S-3. La transazione è stata supportata da consulenti legali di Dorsey & Whitney LLP per la Società e Kaufman & Canoles, P.C. per Aegis Capital Corp.
Flora Growth Corp. (NASDAQ: FLGC) ha anunciado el cierre de una oferta directa registrada de 3.6 millones de dólares a inversores institucionales. La compañía vendió 2,850,000 acciones comunes a un precio de 1.25 dólares por acción. Los ingresos se utilizarán para fines corporativos generales y capital de trabajo.
La oferta fue realizada a través de Aegis Capital Corp. como Agente de Colocación Exclusivo y se llevó a cabo de acuerdo con un estado de registro en estantería efectivo en el Formulario S-3. La transacción fue respaldada por asesoría legal de Dorsey & Whitney LLP para la Compañía y Kaufman & Canoles, P.C. para Aegis Capital Corp.
플로라 성장 Corp. (NASDAQ: FLGC)는 기관 투자자들을 대상으로 360만 달러 규모의 등록 직거래 제공을 종료했다고 발표했습니다. 회사는 2,850,000주 보통주를 주당 1.25달러의 가격에 판매했습니다. 수익금은 일반 회사 운영 및 운전 자본에 사용될 예정입니다.
이번 제공은 독점 배치 에이전트인 Aegis Capital Corp.를 통해 진행되었으며, 유효한 S-3 양식의 선반 등록 성명에 따라 이루어졌습니다. 거래는 Dorsey & Whitney LLP의 법률 자문과 Aegis Capital Corp.의 Kaufman & Canoles, P.C.의 법률 자문을 통해 지원되었습니다.
Flora Growth Corp. (NASDAQ: FLGC) a annoncé la clôture d'une offre directe enregistrée de 3,6 millions de dollars auprès d'investisseurs institutionnels. La société a vendu 2.850.000 actions ordinaires à un prix de 1,25 dollar par action. Les produits seront utilisés à des fins corporatives générales et pour le fonds de roulement.
L'offre a été réalisée via Aegis Capital Corp. en tant qu'Agent de Placement Exclusif et a été faite conformément à une déclaration d'enregistrement de shelf effective sur le Formulaire S-3. La transaction a été soutenue par des conseillers juridiques de Dorsey & Whitney LLP pour la Société et Kaufman & Canoles, P.C. pour Aegis Capital Corp.
Flora Growth Corp. (NASDAQ: FLGC) hat den Abschluss eines registrierten Direktangebots über 3,6 Millionen Dollar an institutionelle Investoren bekannt gegeben. Das Unternehmen verkaufte 2.850.000 Stammaktien zu einem Preis von 1,25 Dollar pro Aktie. Die Erlöse werden für allgemeine Unternehmenszwecke und Betriebskapital verwendet.
Das Angebot wurde über Aegis Capital Corp. als exklusiven Platzierungsagenten durchgeführt und im Rahmen einer wirksamen Regalregistrierungserklärung auf Formular S-3 erstellt. Die Transaktion wurde von der Rechtsberatung von Dorsey & Whitney LLP für das Unternehmen und Kaufman & Canoles, P.C. für Aegis Capital Corp. unterstützt.
- Secured $3.6 million in additional funding
- Successfully completed institutional offering indicating investor interest
- Potential dilution of existing shareholders through issuance of 2,850,000 new shares
- Offering price of $1.25 per share may indicate downward pressure on stock value
Insights
Fort Lauderdale, Florida--(Newsfile Corp. - December 16, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (the "Company") today announced the closing of a registered direct offering to institutional investors for the aggregate purchase and sale of approximately
The offering consisted of the sale of an aggregate of 2,850,000 Common Shares. The public offering price per Common Share was
Aegis Capital Corp. acted as Exclusive Placement Agent for the offering. Dorsey & Whitney LLP acted as counsel to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
The registered direct offering was made pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-274204), previously filed with the United States Securities and Exchange Commission (the "SEC"), which was declared effective by the SEC on September 6, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov/edgar. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at +1 (212) 813-1010.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Flora Growth Corp.
Flora Growth Corp. is a cannabis focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world.
Forward-Looking Statements
The foregoing material may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company's product development and business prospects, and can be identified by the use of words such as "may," "will," "expect," "project," "estimate," "anticipate," "plan," "believe," "potential," "should," "continue" or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Investor Relations
ir@floragrowth.com
Investor Relations:
Clifford Starke
Clifford.Starke@floragrowth.com
Media:
media@floragrowth.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233983
FAQ
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