Planet 13 closes $11.3M public offering of 18.75M units at $0.60/unit, each with a warrant at $0.77

Planet 13 Holdings Inc.

Gross proceeds ~$11.3M; net proceeds ~$9.825M after underwriting discounts and expenses.
Each unit consists of one common share and one 5-year warrant exercisable at $0.77 per share.
Underwriters granted 30-day option for up to 2,812,500 additional shares/warrants (15% over-allotment).
Proceeds for working capital, potential Nevada cannabis license acquisitions, Florida and Illinois expansion.
Directors/officers subject to 90-day lock-up; company banned from variable rate transactions for 6 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Planet 13 Holdings Inc. entered into Underwriting Agreement with unknown valued at Underwriting Agreement for the offering of shares and warrants (effective 2024-03-07).

Action: entry
Agreement: underwriting
Value: Underwriting Agreement for the offering of shares and warrants
Effective: 2024-03-07

Exact text from the filing

A copy of the Underwriting Agreement is filed as Exhibit 1.1 hereto and is incorporated into this Item 1.01 by reference.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Planet 13 Holdings Inc. entered into Warrant Agreement with Odyssey Transfer US Inc. valued at Warrant agreement governing terms of warrants sold in the offering (effective 2024-03-07).

Action: entry
Counterparty: Odyssey Transfer US Inc.
Value: Warrant agreement governing terms of warrants sold in the offering
Effective: 2024-03-07

Exact text from the filing

On March 7, 2024, the Company entered into a warrant agency agreement with the Company’s transfer agent, Odyssey Transfer US Inc. (“Odyssey”), which will also act as the warrant agent for the Company, setting forth the terms and conditions of the Warrants sold in the Offering (the “Warrant Agreement”).

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632 material agreements filed in the last 30 days. Browse all material agreements →

Planet 13 Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-006905

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