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Another pot play: Cannabis producer Sundial Growers files for a $100 million US IPO


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Sundial Growers, an early-stage Canadian cannabis producer, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Sundial is the second Canadian cannabis grower to file for a US IPO in the past two weeks, following Flowr's (FLWR) $94 million filing last week. A larger Canadian cannabis grower, Tilray ( TLRY ), completed a US IPO last year; the stock finished Friday 176% above offer.

The Calgary, Canada-based company was founded in 2006 and booked C$1.7 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol SNDL. Sundial Growers filed confidentially on April 29, 2019. Cowen, BMO Capital Markets and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Another pot play: Cannabis producer Sundial Growers files for a $100 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs
Referenced Symbols: TLRY



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