KushCo Holdings Inc. is selling 17,197,570 units at $1.75 apiece to investors in a registered direct offering.
Each unit consists of one common share and a warrant to buy half a common share. The 5-year warrants will be immediately exercisable at $2.25 per share.
The Cypress, Calif.-based cannabis company expects to raise about $30.1 million in gross proceeds from the offering. KushCo will use net proceeds for working capital and other general corporate purposes.
The offering is expected to close on Sept. 30, 2019.
Jefferies LLC and A.G.P./Alliance Global Partners are co-lead placement agents for the offer.
