Curaleaf Holdings Sets Pricing for Its C$16 Million Subordinate Voting Shares Offering

LOS ANGELES– Curaleaf Holdings, Inc., a U.S. supplier of consumer cannabis products, revealed the pricing details of its forthcoming marketed offering of subordinate voting shares. Each share has been priced at C$6.00. The sole underwriter and bookrunner for this offering, Canaccord Genuity, has agreed to purchase 2.7 million of these shares, which translates to gross proceeds of C$16.2 million for the company.

The offering extends to all the provinces in Canada, except Québec. It’s based on a prospectus supplement linked to the company’s base shelf prospectus, dated December 30, 2022. For U.S. investors, the offering takes the route of a private placement to “qualified institutional buyers,” sidestepping the typical registration mandates of the United States Securities Act of 1933 and the accompanying state securities regulations. Prospective investors can expect the filing of the prospectus supplement on September 28, 2023.

The completion of this offering, slated for October 3, 2023, is conditional upon standard market preconditions, as well as specific stipulations from the Canadian Securities Exchange.

Key among Curaleaf’s objectives with this offering is the fulfillment of prerequisites for the potential enlistment of the subordinate voting shares on the Toronto Stock Exchange (TSX). The company plans to allocate a segment of the proceeds to meet the working capital demands of its global enterprise steered by Curaleaf Holdings International. The remaining funds will be channeled towards general corporate purposes.

Post-filing, the prospectus will be accessible on SEDAR+ under Curaleaf’s company profile and can be procured from Canaccord Genuity Corp.’s Toronto office. Given the profound implications of this offering, potential investors are advised to peruse the prospectus along with other pertinent documents available on SEDAR+ prior to any investment decisions.

To note, no securities regulatory entity has vetted the contents of this press release. The offered securities will remain unregistered under the U.S. Securities Act and individual state securities laws, necessitating particular stipulations for offers or sales within the U.S. or to U.S. entities. This communication is not an invitation for the acquisition or sale of the company’s securities in any jurisdiction where such actions would be illegal without due registration or exceptions from the respective jurisdiction’s securities laws.