Flora Growth withdraws proposed public offering of common shares

Flora Growth Corp. (NASDAQ: FLGC) announced it has withdrawn its proposed public offering of common shares, according to a company statement released January 28.

The Toronto-based company provided no details regarding the reasons for the withdrawal or the size of the proposed offering that was canceled.

Flora Growth describes itself as an asset management company focused on decentralized AI exposure and operates a pharmaceutical distribution business through its subsidiary Phatebo GmbH. The company stated it plans to rebrand as ZeroStack.

The announcement included standard legal language noting that the press release does not constitute an offer to sell securities and that any such sales would need to comply with applicable securities laws.

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