Company has also filed a Canadian Preliminary Prospectus for Proposed IPO, in order to qualify the offering of securities in Canada and to ensure purchasers in Canada are not subject to resale restrictions
CANADA: Tilray, a vertically-integrated and federally-licensed cannabis cultivator, processor and distributor, has announced the filing of a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) for a proposed initial public offering (“IPO”) of shares of its Class 2 common stock in the United States. Tilray intends to list its Class 2 common stock on the Nasdaq Global Select Market under the ticker symbol “TLRY.”
The number of shares to be offered and the price range for the offering have not yet been determined. In order to qualify the offering of securities in Canada and to ensure that purchasers in Canada are not subject to restrictions on resale, Tilray has also filed a preliminary prospectus for a proposed IPO in Canada with the securities regulatory authorities in each province of Canada other than the Province of Quebec. Tilray does not intend to list on any stock exchange in Canada.
Cowen and BMO Capital Markets will jointly act as book-runners for the proposed IPO. Cowen will act as the sole book-running manager for the IPO in the United States, and BMO Capital Markets will act as the sole book-running manager for the IPO in Canada. Eight Capital will act as a lead manager for the IPO in Canada. Roth Capital Partners will act as a lead manager and Northland Capital Markets will act as a co-manager for the IPO in the United States.