Charlotte’s Web raises $66M in stock offering
LOUISVILLE — Charlotte’s Web Holdings Inc. (TSX: CWEB, OTCQX: CWBHF), a CBD product manufacturer, announced Monday it will raise $66.25 million in a public stock offering that will help fund ongoing capital expenses.
The firm has entered into an agreement with Canadian investment underwriting services firm Canaccord Genuity Corp. to sell 5,000,000 shares at CA$13.25. Charlotte’s Web has granted the underwriters an option to purchase an additional 750,000 shares under the same terms.
The deal is expected to close in December.
Charlotte’s Web’s fundraising comes as the company moves into a large new headquarters…
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