Canadian marijuana company Tilray files for IPO, eyes Nasdaq listing

Tilray, the British Columbia hashish company owned by Seattle personal fairness agency Privateer, filed paperwork with the U.S. Securities and Exchange Commission on Wednesday to go public.

The vertically built-in develop, processing and distribution company – one of many greater hashish corporations in Canada – intends to record on the Nasdaq Global Select Market underneath the ticker image TLRY, the company introduced in a information launch.

The submitting comes nearly 4 months after the Cronos Group, an Ontario hashish company, listed on the Nasdaq, and Canopy Growth, one other Ontario enterprise, filed for its personal Nasdaq IPO.

The variety of shares to be provided and the worth vary for the providing haven’t been decided.

Tilray doesn’t intend to record on any inventory trade in Canada, the company stated.

Cowen and BMO Capital Markets will collectively act as bookrunners for the proposed IPO, in response to the discharge.

Cowen will act as the only bookrunning supervisor for the IPO within the United States, and BMO Capital Markets will act as the only bookrunning supervisor for the IPO in Canada.

Eight Capital will act as a lead supervisor for the IPO in Canada. Roth Capital Partners will act as a lead supervisor and Northland Capital Markets will act as a co-manager for the IPO within the United States.

In associated information, Sandoz Canada, a subsidiary of pharmaceutical big Novartis, finalized an settlement with Tilray to place the Sandoz model identify on eight noncombustible hashish merchandise which might be already bought beneath the nation’s medical marijuana mail-order system, in line with the Financial Post.

Tilray and Sandoz signed a letter of intent final March to type a three way partnership.

Categories: Briefs, Canada Marijuana News, International Marijuana Business News, Marijuana Stocks & Public Companies



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