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British Columbian based Tilray Inc. will be valued at between US$1.3 and $1.5 billion when it begins trading on the Nasdaq Stock Market. 

Forms filed with the U.S. Securities and Exchange Commission showed that the company expects to list 9 million shares between US$14 and US$16. 

Tilray’s IPO, seen as relatively late in the game compared to its competitors, is expected to raise between US$126 and $144 million to pay off debt and expand its facilities in British Columbia, Ontario, and Portugal. 

Seattle-based firm Privateer Holdings Inc., will own 75 million of the companies 92 million shares post IPO, and due to the Class 1, Class 2 share structure, will have a 93 percent voting power in the company. 

Tilray will be the third Canadian cannabis company to list on a major American exchange, and like its peers, will hold “unicorn” status (start-ups above $1 billion valuation) despite no profit and little revenue. In the quarter ended March 31, 2018, Tilray reports a loss of US$5.1 million on $7.8 million revenue. 

Source: https://business.financialpost.com/cannabis/cannabis-grower-tilray-valued-at-up-to-1-5-billion-for-nasdaq-ipo


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