KushCo Holdings closes $34M registered direct offering
KushCo Holdings announced it closed a registered direct offering of 6,476,190 shares of common stock and warrants to purchase 3,238,095 shares of common stock with a combined purchase price of $5.25 per share on January 18, 2019. The warrants have an exercise price of $5.75 per share, are immediately exercisable and will expire five years from the date of issuance. The gross proceeds of the offering are approximately $34M before deducting placement agent fees and other estimated offering expenses. The company intends to use the net proceeds for general corporate purposes, including, among other things, working capital, product development, acquisitions, capital expenditures, and other business opportunities. A.G.P./Alliance Global Partners acted as the lead placement agent in connection with the offering. Compass Point Research & Trading, LLC acted as co-placement agent in connection with the offering. Northland Securities, Inc. acted as a financial advisor in connection with the offering.