Gage Growth, a Michigan-based cannabis operation, said it raised the maximum $50 million allowed through a Regulation A, small-investor offering. Regulation A offerings are a way for a company to build a base of loyal investors in advance of a potential initial public stock offering with less-stringent regulatory requirements. Such offerings were especially being eyed when capital markets were tight the past couple of years. Gage’s oversubscribed offering reflects how investor interest in marijuana companies is increasing again. Gage, which is based west of Detroit, said it expects to use the proceeds to expand its retail footprint, pursue acquisitions and strengthen its brand.
Marijuana Business Daily, 01/28/2021 13:24:00