Tilray, a Canadian vertically integrated supplier of medical cannabis, announced terms for its IPO on Monday.
The Nanaimo, Canada-based company plans to raise $135 million by offering 9 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Tilray would command a basic market value of $1.4 billion.
Tilray was founded in 2014 and booked $23 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol TLRY. Cowen is the sole bookrunner on the deal. It is expected to price during the week of July 16.
