A heavily anticipated initial public offering (IPO) from Tilray finally made its debut on the Nasdaq with a higher price tag than expected on Thursday (July 19). During its first day in the public market, Tilray’s stock delivered on anticipation from the investor audience with an offering size of approximately US$153 million. The offering is expected to complete on July 23. The cannabis producer started offering 9 million shares with an initial price tag of US$23.05 each–an increase from the original plan to sell between US$14 and US$16. At the end of Thursday’s trading session, TLRY was worth US$22.39 per share. Tilray will trade its class 2 common stock shares with subordinate voting power under the ticker symbol “TLRY.” The producer’s parent company Privateer Holdings, a private equity firm based in Seattle, holds all of the multiple-voting shares, according to The Globe and Mail.
Hemp Land, Cannabis Hemp Blog, 04/09/2021 07:56:00