Baker & McKenzie LLP issued the following announcement on May 10.
CannTrust Holdings Inc., a Canadian cannabis company listed on the TSX and NYSE, closed a USD 200 million cross-border public offering and secondary offering by certain selling shareholders. Baker McKenzie acted as Canadian counsel to a syndicate of US and Canadian underwriters led by Bank of America Merrill Lynch, Credit Suisse and RBC Capital Markets as the lead bookrunners.
The company intends to use the net proceeds for cultivation and facility expansion, expanded outdoor growing, international expansion, enhanced extraction capacity, upgrades for GMP Certification and biosynthesis development.
This was a significant transaction in the market and was under the Multijurisdictional Disclosure System established between Canada and the United States.
The Baker McKenzie transaction team led by partner David Palumbo included Haran Viswanathan, Grace Kim-Cho and Marc DiPierdomenico in corporate and securities and Peter Clark and Andrew Morreale in tax.
Original source can be found here.
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