GrowGeneration Reveals $125 Million Follow-On Public Offering
DENVER, CO December 7, 2020/ PRNewswire/– GrowGeneration Corp. (NASDAQ: GRWG), (” GrowGen” or the “Business”), today revealed that it has actually openly submitted a registration declaration on Kind S-3 with the U.S. Securities and Exchange Commission connecting to a proposed follow-on public offering raising $125,000,000. In connection with the offering, GrowGen anticipates to give the underwriters a 30-day choice to acquire approximately an extra 15% of the shares of typical stock used in the general public offering.
Oppenheimer & & Co. and Stifel are serving as joint book-running supervisors for the proposed offering.
The securities explained above will be used by GrowGen pursuant to an automated “rack” registration declaration on Kind S-3 (File No. 333-251174) formerly submitted with the Securities and Exchange Commission (the “SEC”) on December 7, 2020, which ended up being instantly reliable upon filing. The securities might be used just by methods of a prospectus. An initial prospectus supplement and the accompanying prospectus connecting to and explaining the offering will be submitted with the SEC. Electronic copies of the initial prospectus supplement and the accompanying prospectus might be gotten by checking out the SEC’s site at www.sec.gov or by getting in touch with Oppenheimer & & Co. Inc., Attention: Distribute Prospectus Department, 85 Broad Street, 26th Flooring, New York City, NY 10004, by telephone at (212) 667-8055 or by email at [email protected], or Stifel, Attention: Equity Capital Markets or Stifel, Nicolaus & & Business, Incorporated, Attention: Distribute, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at 415-364-2720 or by e-mail at [email protected] The last regards to the offering will be revealed in a last prospectus supplement to be submitted with the SEC.
This news release does not make up a deal to offer or the solicitation of a deal to purchase, nor will there be any sale of these securities in any state or jurisdiction in which such deal, solicitation or sale would be illegal previous to the registration or certification under the securities laws of any such state or jurisdiction.
About GrowGeneration Corp.:
GrowGen owns and runs specialized retail hydroponic and natural gardening shops. Presently, GrowGen has 36 shops, that include 5 places in Colorado, 10 places in California, 2 places in Nevada, 1 place in Arizona, 1 place in Washington, 6 places in Michigan, 1 place in Rhode Island, 4 places in Oklahoma, 2 places in Oregon, 3 places in Maine and 1 place in Florida. GrowGen likewise runs an online warehouse store for farmers at growgeneration.com. GrowGen brings and offers countless items, consisting of natural nutrients and soils, advanced lighting innovation and cutting-edge hydroponic devices to be utilized inside and outdoors by industrial and house growers. The Business’s objective is to own and run GrowGeneration branded shops in all the significant states in the U.S. and Canada. Management approximates that approximately 1,000 hydroponic shops function in the U.S. By 2025, the international hydroponics system market is approximated to reach around $16 billion.
Initial news release
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