US - COLORADO: Urban-Gro Closes $62 Million Public Offering
urban-gro has closed its previously announced public offering of 6,210,000 shares of the Company’s common stock at a public offering price of $10.00 per share, which includes 810,000 shares sold upon full exercise of the underwriter’s option to purchase additional shares. The gross proceeds from the offering, including the exercise of the over-allotment option, were $62,100,000 before deducting underwriting discounts, commissions, and offering expenses.
The Company intends to use the net proceeds to support organic growth, to expand in the European CEA market, for general corporate purposes, including to fund potential future investments and acquisitions of companies that the Company believes will complement its business and growth strategy and to repay certain outstanding indebtedness.
ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering.
For more information:
urban-gro
720-390-3880
marketing@urban-gro.com
urban-gro.com
18 Feb 2021