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IAnthus Capital raises C$34.5M via bought deal financing

IAnthus Capital Holdings Inc. sold 5,188,800 common shares at C$6.65 apiece in a bought deal offering, raising C$34.5 million in gross proceeds.

The shares issued include the full exercise of the underwriters' option to buy up to an additional 676,800 common shares in the transaction.

IAnthus Capital will use the net proceeds for capital expenditures to expand its capacity, working capital and general corporate requirements.

GMP Securities LP led the syndicate of underwriters in the offering, which included Canaccord Genuity Corp., Cormark Securities Inc., Beacon Securities Ltd., Echelon Wealth Partners Inc. and PI Financial Corp.

New York-based iAnthus Capital Holdings owns and operates licensed cannabis cultivation, processing and dispensary facilities in the U.S.