Business
Charlotte's Web Announces Pricing of Public Offering of Common Shares
Charlotte's Web Announces Pricing of Public Offering of Common Shares Canada NewsW...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCharlotte's Web Announces Pricing of Public Offering of Common Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBOULDER, CO, May 9, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\n BOULDER, CO, May 9, 2019 /CNW/ - (CSE:CWEB, OTCQX:CWBHF) Charlotte's Web Holdings, Inc. (\"Charlotte's Web\", or the \"Company\"), the market share leader in hemp-derived CBD extract products, announces the pricing of its previously announced underwritten public offering of an aggregate of 7 million common shares at a price of C$20.00 per share for total gross proceeds of approximately C$140 million. All of the common shares in the offering are to be sold by certain current shareholders. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 15% of the common shares offered in the proposed public offering on the same terms and conditions.  \nThe offering is expected to close on or about May 15, 2019, subject to the satisfaction of customary closing conditions, including the listing of the common shares on the Canadian Securities Exchange. \nThe Company will not receive any proceeds from the sale of common shares by the current shareholders. \nCanaccord Genuity Corp. is acting as the sole bookrunner for the offering on behalf of a syndicate including Cormark Securities Inc., Eight Capital and PI Financial Corp.  \nThe common shares will be offered in each of the provinces of Canada, other than Québec, pursuant to the Company's base shelf prospectus dated April 8, 2019 (the \"Base Prospectus\") and may also be offered by way of private placement in the United States to \"qualified institutional buyers\". The terms of the offering will be described in a prospectus supplement (the \"Supplement\") to be filed with the securities regulators in each of the provinces of Canada, except Québec, on May 13, 2019.\nCopies of the Supplement, following filing thereof, and accompanying Base Prospectus may be obtained on SEDAR at www.sedar.co...