Deals
Marijuana Firm Curaleaf Seeks Valuation Up to $4 Billion
This article is for subscribers only.
Curaleaf Inc., a vertically integrated cannabis operator, is banking on the marijuana craze being far from over to propel its reverse takeover of a Canadian listed company.
The Wakefield, Massachusetts-based company plans to offer subscription receipts at C$8.56 to C$11.47 per initial receipt, equivalent to $6.5709 to $8.8059 (assuming 1.30245 USD/CAD exchange rate). The range is based on a fully diluted pre-offering equity valuation between $3.0 billion and $4.0 billion, according to a term sheet reviewed by Bloomberg. GMP Securities and Canaccord Genuity are co-leading the offering, according to the terms.