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Flora Growth Corp. Prices IPO

05/11/2021 05:23

09:16 AM EDT, 05/11/2021 (MT Newswires) -- Flora Growth Corp. (FLGC), a Canadian cultivator and manufacturer of cannabis-derived products, priced its initial public offering of just over 3.3 million common shares at US$5 per share for gross proceeds of approximately US$16.7 million.

Shares of the company are expected to begin trading on the Nasdaq Capital Market Tuesday under the symbol FLGC. The offering is projected to close May 13.

The underwriter have an overallotment option to purchase up to an additional 500,000 shares during the next 45 days at the offering price.