Cannabis-focused finance company Altmore BDC, Inc. announced the filing of a registration statement on Form N-2 related to an initial public offering of 6.67 million shares of its common stock. The price range for this offering is currently $14.50 to $15.50 per share of common stock.
Altmore has applied to have its common stock approved for listing on the Nasdaq Capital Market under the symbol “ABDC.”
In connection with this offering, Altmore is expected to grant the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of its common stock. The completion of the proposed offering depends upon several factors, including market and other conditions.
The company intends to use the net proceeds of this offering for investments in senior secured loans in accordance with the investment objective and strategies described in the prospectus and for general working capital purposes, though it is possible that some of the net proceeds may be invested in other forms of debt, as described in the prospectus.
Ladenburg Thalmann & Co. Inc., Compass Point Research & Trading, LLC and Oppenheimer & Co. Inc. are acting as joint lead book-running managers for the offering.
