Marijuana grow firm looks for to raise $125 million in stock offering

GrowGeneration Corp., a marijuana growing business that owns a chain of hydroponic garden centers, means to raise an extra $125 million through a secondary stock providing to sustain growth, according to a filing with the U.S. Securities and Exchange Commission.

Denver-based GrowGeneration on Monday stated in a prospectus that it now has 36 shops in 11 states and has actually targeted 7 states for growth: Illinois, Massachusetts, Missouri, New Jersey, New York City, Ohio and Pennsylvania.

GrowGeneration just recently got the properties of The GrowBiz, among the biggest hydroponic garden centers in the U.S. with shops in California and Oregon.

GrowGeneration produced $131.4 countless profits for its very first 9 months of the year ended Sept. 30, more than double profits of $54.3 million for the exact same duration in 2019.

The business published an earnings $3.8 million for the nine-month duration, compared to profits of $2.3 million for the exact same duration of 2019.

The business trades on Nasdaq as GRWG.

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