12:00 PM EST, 03/05/2024 (MT Newswires) -- Planet 13 Holdings Inc. ( PLNH ) has priced its previously announced underwritten public offering. The company will issue and sell 18.75 million units at US$0.60 each for total gross proceeds of US$11.3 million. The underwriters have also been granted a 15% over-allotment option, which, if fully exercised, will yield total gross proceeds of US$12.9 million.

Each unit will consist of one share and one warrant. Each warrant is exercisable for one common share at US$0.77, for five years.

The offering is expected to close on or about March 7.

The company intends to use the net proceeds for working capital and general corporate purposes.

Price: 0.75, Change: -0.22, Percent Change: -22.68