Marijuana multistate operator Planet 13 Holdings has priced a public offering to raise gross proceeds of at least $11.3 million.
Las Vegas-based Planet 13 sell 18.75 million units at 60 cents per unit through the underwritten public offering.
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Each unit includes one common share with no par value and one warrant.
The warrants permit purchasing one more share at 77 cents within five years, “subject to adjustments in certain events.”
The underwriters, including Beacon Securities, have a 30-day over-allotment option to buy “up to an additional 2,812,500 shares and/or warrants,” Planet 13 said in a Monday news release.
If exercised in full, that over-allotment option would yield $12.9 million in gross proceeds.
Planet 13 said it would use the proceeds “for working
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