Charlotte’s Web, the Colorado-based CBD manufacturer, said it has raised 140 million Canadian dollars ($105 million) in a share offering.
The move, which saw existing shareholders selling some of their shares, is in connection with company plans to raise up to CA$500 million, announced last month.
The overall raise will likely be used for possible acquisitions, funding ongoing operations and potential international expansion, the company said at the time of the prior announcement.
More details on the latest offering, which could rise to CA$161 million, can be found here.
Charlotte’s Web trades on the Canadian Securities Exchange under the ticker CWEB.
Subscribe to our Newsletter
