FLGC - Flora Growth's Stock Trading Higher On Pricing $3.2M Public Offering Of Common Shares | Benzinga
Flora Growth Corp. (NASDAQ:FLGC) announced on Thursday the pricing of its underwritten public offering of 1.7 million common shares for aggregate gross proceeds of roughly $3.23 million.
Clifford Starke, the company's CEO, and an existing investor have agreed to purchase, and have been allocated by Aegis Capital Corp. common shares in the offering.
Flora said it will use the net proceeds from the transaction, which is expected to close on or about Monday, April 8 for general corporate and working capital needs.
The move came shortly after the company’s recent move to further cement its global footprint via acquisition in Germany.
The company, through its wholly-owned subsidiaries, has been active in Germany since 2017, revealed last week its plans to launch a cannabis home grow kit and start-up material seeds and cuttings in the European country as it enters the first phase of new recreational cannabis legalization law.
German cannabis law that went into ...