Business
Charlotte's Web Announces Proposed Public Offering of Common Shares
Charlotte's Web Announces Proposed Public Offering of Common Shares Canada NewsWir...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCharlotte's Web Announces Proposed 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 8, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES./\n BOULDER, CO, May 8, 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, intends to sell its common shares in an underwritten public offering. All of the common shares in the offering are to be sold by certain current shareholders. In addition, the selling shareholders intend to grant 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 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 conditions, as well as a number of customary closing conditions, including the listing of the offered common shares on the Canadian Securities Exchange and any required approvals of the 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.\nIt is expected that the 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 any offering will be described in a prospectus supplement to be filed with the securities commission in each of the provinces of Canada, except Québec (the \"Supplement\"). \nCopies of the Supplement, following filing thereof...