Flora Growth Announces Pricing of $30 Million Public Offering
November 19 2021 - 7:05AM
Business Wire
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a
leading all-outdoor cultivator and manufacturer of global cannabis
products and brands, today announced the pricing of an underwritten
public offering of 10,000,000 units (the “Units”), with each Unit
consisting of one common share and one-half warrant (the “Unit
Warrants”), each whole Unit Warrant entitling the holder thereof to
purchase one Common Share. The Units are being sold at a public
offering price of $3.00 per Unit. The Unit Warrants will have an
exercise price of $3.75 per share, will be immediately exercisable
and will expire five years from the date of issuance. The offering
is expected to close on November 23, 2021, subject to customary
closing conditions.
A.G.P./Alliance Global Partners is the sole book-running manager
for the public offering and BMO Capital Markets and Roth Capital
Partners are acting as co-managers. MKM Partners is acting as a
financial advisor to the Company. Flora has granted the
underwriters a 45-day option to purchase up to 15% of the total
number of Units to be offered by us pursuant to this offering
(excluding Units subject to this option), solely for the purpose of
covering over-allotments, if any, at the public offering price less
the underwriting discount.
The offering is being made only by means of a prospectus. A copy
of the final prospectus related to the offering may be obtained,
when available, from A.G.P./Alliance Global Partners, 590 Madison
Avenue, 28th Floor, New York, NY 10022, or by telephone at (212)
624-2060, or by email at prospectus@allianceg.com or by visiting
EDGAR on the SEC’s website at www.sec.gov.
A registration statement relating to these securities was filed
with the Securities and Exchange Commission and declared effective
on November 18, 2021. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy these
securities, 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 is building a connected, design-led collective, of
plant-based wellness and lifestyle brands, that delivers the most
compelling customer experiences in the world, one community at a
time. As the operator of one of the largest outdoor cannabis
cultivation facilities, Flora leverages natural, cost-effective
cultivation practices to supply cannabis derivatives to its diverse
business divisions of cosmetics, hemp textiles, and food and
beverage.
Cautionary Statement Concerning Forward-Looking
Statements
This document contains forward-looking statements. In addition,
from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: our financial
performance and projections; our growth in revenue and earnings;
and our business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as “may,”
“should,” “expects,” “anticipates,” “contemplates,” “estimates,”
“believes,” “plans,” “projected,” “predicts,” “potential,” or
“hopes” or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including our ability to change the direction of the
Company; our ability to keep pace with new technology and changing
market needs; and the competitive environment of our business.
These and other factors may cause our actual results to differ
materially from any forward-looking statement. Forward-looking
statements are only predictions. The forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives may not occur, and actual
events and results may differ materially and are subject to risks,
uncertainties and assumptions about us. We undertake no obligation
to publicly update or revise any forward-looking statement, whether
as a result of uncertainties and assumptions, or the
forward-looking events discussed in this document and other
statements made from time to time by us or our representatives not
occurring, except as may be required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211119005277/en/
Investor Relations Contact: Evan Veryard
evan.veryard@floragrowth.com
Public Relations Contact: Cassandra Dowell +1 (858)
264-6600 flora@cmwmedia.com
For Underwriter Inquiries Please Contact: Alliance Global
Partners Tel: (212) 624-2060 +1 949 502 4408 Email:
prospectus@allianceg.com
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