DENVER, June 10, 2020 /PRNewswire/ - GrowGeneration Corp.
(NASDAQ: GRWG), ("GrowGen" or the "Company"), the largest chain of
stand-alone specialty hydroponic and organic garden centers, today
announced that it has publicly filed a registration statement on
Form S-1 with the U.S. Securities and Exchange
Commission relating to a proposed follow-on public offering
raising $35,000,000. In connection
with the offering, GrowGen expects to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of
common stock offered in the public offering.
Oppenheimer & Co. is acting as the sole book-running manager
for the proposed offering. Ladenburg Thalmann & Co. Inc. and
Lake Street Capital Markets are acting as co-managers for the
offering.
The proposed offering is being made only by means of a
prospectus. Copies of the preliminary prospectus, when available,
may be obtained from: Oppenheimer & Co. Inc., Attn:
Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, New York 10004, by
telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com. A registration statement relating
to these securities has been filed with the U.S. Securities
and Exchange Commission but has not yet become effective.
These securities may not be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes
effective. 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 GrowGeneration
Corp.:
GrowGen owns and operates specialty retail hydroponic and
organic gardening stores. Currently, GrowGen has 27 stores, which
include 5 locations in Colorado, 5
locations in California, 2
locations in Nevada, 1 location in
Washington, 4 locations in
Michigan, 1 location in
Rhode Island, 4 locations in
Oklahoma, 1 location in
Oregon, 3 locations in
Maine and 1 location in
Florida. GrowGen also operates an
online superstore for cultivators, located at www.growgen.pro and
www.growgeneration.com. GrowGen carries and sells thousands of
products, including organic nutrients and soils, advanced lighting
technology and state of the art hydroponic equipment to be used
indoors and outdoors by commercial and home growers. The Company's
mission is to own and operate GrowGeneration branded stores in all
the major states in the US and Canada. Management estimates that roughly
1,000 hydroponic stores are in operation in the US. By 2025, the
global hydroponics system market is estimated to reach
approximately $16 billion.
Forward Looking Statements:
This press release may include predictions, estimates or other
information that might be considered forward-looking within the
meaning of applicable securities laws. While these forward-looking
statements represent our current judgments, they are subject to
risks and uncertainties that could cause actual results to differ
materially. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect our opinions only as of
the date of this release. Please keep in mind that we are not
obligating ourselves to revise or publicly release the results of
any revision to these forward-looking statements in light of new
information or future events. When used herein, words such as "look
forward," "believe," "continue," "building," or variations of such
words and similar expressions are intended to identify
forward-looking statements. Factors that could cause actual results
to differ materially from those contemplated in any forward-looking
statements made by us herein are often discussed in filings we make
with the United States Securities and Exchange Commission,
available at: www.sec.gov, and on our website, at:
www.growgeneration.com.
Connect:
- Website: www.GrowGeneration.com
- E-commerce: https://growgen.pro/
- Instagram: growgen
- Facebook: GrowGenerationCorp
- Twitter: @GrowGenOK
View original content to download
multimedia:http://www.prnewswire.com/news-releases/growgeneration-announces-35-000-000-follow-on-public-offering-301073386.html
SOURCE GrowGeneration