Grove, which makes and sells CBD products, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
Grove develops, produces, markets, and sells raw materials, white label products, and end consumer products containing the industrial hemp plant extract, Cannabidiol (CBD). The company primarily conducts business through its wholly-owned subsidiaries, including Steam Distribution, One Hit Wonder, and Havz.
The Henderson, NV-based company was founded in 2018 and booked $11 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol GRVI. Kingswood Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
