Flora Growth Corp. (NASDAQ:FLGC), a pharmaceutical preparations company, has entered into an agreement for a new offering of common shares. On December 10, 2024, the company signed a Placement Agent Agreement with Aegis Capital Corp., detailing the offering of up to 44,910,179 common shares. In conjunction with this agreement, Flora Growth executed Subscription Agreements with certain institutional investors on December 10 and December 11, 2024.
The company has agreed to sell 425,000 common shares at $1.67 each, aiming to raise approximately $709,750 in gross proceeds. This offering is part of a larger fundraising effort, as outlined in the company's Offering Statement on Form 1-A, which was initially filed on July 16, 2024, and most recently qualified by the SEC on November 29, 2024.
The shares in this offering are being made available under a previously filed and recently qualified Offering Statement. This move by Flora Growth Corp. represents an effort to increase its capital, potentially to fund ongoing operations or future expansion plans.
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