Tilray Inc. late Wednesday raised $153 million via an inital public offering of 9 million shares of which 6.524 million shares will be offered in the U.S. at $17 a share, above its expected pricing range of $14 to $16. Another 2.476 million shares classified as subordinate voting shares will be offered in Canada and other countries at 22.45 Canadian dollar a share. Tilray, a federally-licensed marijuana cultivator, processor and distributor, will receive the bulk of the proceeds and will be majority controlled by the Seattle, Wash.-based Privateer Holdings. Shares are expected to begin trading Thursday morning on the Nasdaq under the ticker symbol TLRY.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.