Stem” or the “
Company“) the first multi-state, integrated cultivation and omnichannel technology cannabis company, announced today the closing of its previously announced marketed public offering (the “
Offering“) of units of the Company (the “
Units“). The Offering was led by Canaccord Genuity Corp. (the “
Agent“) on a ‘commercially reasonable efforts’ basis and consisted of the sale of 18,744,019 Units (including 1,471,291 Units pursuant to the partial exercise of the over-allotment option by the Agent) at a price of $0.55 per Unit for aggregate gross proceeds of $10,309,210 (including $809,210.05 pursuant to the partial exercise of the over-allotment option by the Agent).
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