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Charlotte's Web Completes Filing of Prospectus Supplement for At-the-Market Equity Program
Charlotte's Web Completes Filing of Prospectus Supplement for At-the-Market Equity Progra...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Charlotte's Web Completes Filing of Prospectus Supplement for At-the-Market Equity Program\n \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.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n ATM program adds optionality to capital liquidity toolbox\n \n \n \n \n BOULDER, Colo.\n \n ,\n \n June 4, 2021\n \n /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. (\"Charlotte's Web\" or the \"Company\") has filed a prospectus supplement to establish an at-the-market equity program (the \"ATM Program\"). The Company may distribute up to\n \n CAD$60 million\n \n of common shares of the Company (the \"Offered Shares\") under the ATM Program. Any distributions of the Offered Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement (the \"Distribution Agreement\") with Canaccord Genuity Corp. and BMO Nesbitt Burns Inc. (together, the \"Agents\"). The Offered Shares may be issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The Offered Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale.\n \n \n \n \n \n \n \n \n \n The ATM Program expands the Company's access to capital liquidity sources for future potential operational or growth opportunities. Any net proceeds from the ATM Program would be anticipated to be used for general corporate purposes, which may include general and administrative expenses, working capital needs and other general corporate purposes‎. Under the Distribution Agreement, sales of Offered Shares will be made by the Agents through \"at-the-market distributions\" as defined in National Instrument 44-102 –\n \n Shelf Distributions\n \n on the Toronto Stock Exchange or any other trading market for the Offered Shares in\n \n Canada\n \n . The Company is not obligated to make any sales of Offered Shares under the Distribution Agreement. The volume ...