Canadian Cannabis Producer Tilray Files Paperwork for Nasdaq IPO

(Courtesy of Tilray)

NANAIMO, BRITISH COLUMBIA — Tilray Inc., a vertically-integrated and federally-licensed cannabis cultivator, processor and distributor, today announced the filing of a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering 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 and the price range for the offering have not yet been determined.

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.

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A registration statement relating to these securities has been filed with the SEC but has not yet become effective.

The proposed offering will be made by means of a U.S. prospectus and a Canadian prospectus. When available, copies of the U.S. preliminary prospectus may be obtained from the SEC’s website or from Cowen.

[Editor’s note: Tilray is owned by Privateer Holdings, a private equity firm that also owns Leafly.]