Pot Firm Backed by Russia Banking Veteran Makes Public Debut
- Curaleaf raises about $400 million in private placement
- Cannabis company has 30 stores across 12 U.S. states
Curaleaf products
Photographer: Jeenah Moon/Bloomberg
This article is for subscribers only.
U.S. pot companies are pushing north of the border in search of capital.
Curaleaf Inc., a Massachusetts-based company backed by Moscow banking veteran Boris Jordan with roughly 30 pot stores in 12 states, raised C$520 million ($396 million) through a private placement. Curaleaf says the sale values the company at about $4 billion, making it one of the biggest U.S. pot companies by market capitalization. The stock fell in early trading on the Canadian Securities Exchange in Toronto.