Flora Growth launches underwritten public stock offering

Flora Growth Corp. (NASDAQ: FLGC) announced it has commenced an underwritten public offering of common shares. The company will offer all shares in the transaction, according to a statement released Monday.

R.F. Lafferty & Co., Inc. serves as the sole book-running manager for the offering. The company noted the offering remains subject to market conditions, with no assurance regarding completion, timing, size or final terms.

Flora Growth is conducting the offering through a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. The SEC declared the registration statement effective on September 6, 2023.

The company plans to file a prospectus supplement with the SEC detailing the offering terms. Investors can access offering documents through the SEC's website or directly from the underwriter at 40 Wall Street, Suite 3602, New York.

Flora Growth operates as an asset management company focused on decentralized artificial intelligence exposure and runs a pharmaceutical distribution business through subsidiary Phatebo GmbH. The company indicated it plans to rebrand as ZeroStack.

You May Also Be Interested In

• enVVeno Medical (NVNO) files $100M mixed shelf
• loanDepot receives NYSE non-compliance notice over stock price
• Werewolf Therapeutics to merge with Ambros in $150M private placement