representative work

Indus Holdings Completes $34.5 Million Public Offering


On December 21, 2020, Indus Holdings Inc., a leading, vertically-integrated, California-focused cannabis company, closed a public offering of 23,000,000 units at a price of $1.50 per unit for aggregate gross proceeds of $34.5 million, which includes the full exercise of the underwriters’ over-allotment option.

Each unit is comprised of one subordinate voting share and one-half of one share purchase warrant of Indus. Each warrant is exercisable to acquire one subordinate voting share of Indus at a price of $2.20 until December 21, 2023. The warrants are expected to be listed and posted for trading on the Canadian Securities Exchange under the symbol “INDS.WT” on or about December 21, 2020.

Cassels acted for Indus with a deal team that included Shaun Khullar, Tayyaba Khan, Jasmine Qin and Shannon Scrocchi (Securities and Cannabis) and Corinne Grigoriu and Jocelyn Arnason (Tax).


RELATED EXPERTISE: Securities | Cannabis | Taxation