Highest Institutional Ownership in Cannabis Sector, Charlotte’s Web (TSX: CWEB)

The $115M IPO was 98% institutionally placed other than the President’s list; 80 funds from Canada, US, Europe, Offshore.

“The offering included a treasury issuance by the Company of Common Shares (the “TreasuryOffering“) and a secondary offering of Common Shares (the “Secondary Base Offering“, and together with the Treasury Offering, the “Offering“), for total gross proceeds of C$115,115,000. Charlotte’s Web sold 13,312,150 Common Shares under the Offering, for total gross proceeds to the Company of C$93,185,050. The Selling Shareholders (defined below) sold an aggregate of 3,132,850 Common Shares pursuant to the Secondary Base Offering and the Over-Allotment Option (defined below) for total gross proceeds to the Selling Shareholders of C$21,929,950. The Company did not receive any proceeds from the Secondary Base Offering or the Over-Allotment Option.” (Press Release)

The recent $161M secondary offering was 100% institutionally placed according to Charlotte’s Web spokesperson.

“Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company“), the market share leader in hemp-derived CBD extract products, is pleased to announce today that the Underwriters (as defined below) of its previously-announced underwritten public offering of 7,000,000 common shares of the Company sold by certain current shareholders (the “Selling Shareholders“) at a price of C$20.00 per share (the “OfferingPrice“) have exercised in full their option to purchase an additional 1,050,000 common shares from the Selling Shareholders at the Offering Price. The gross proceeds to the Selling Shareholders under the exercise of this over-allotment will be C$21,000,000, and together with the gross proceeds from the initial closing on May 15, 2019 of C$140,000,000, the aggregate gross proceeds of the offering (the “Offering“) will be $161,000,000.” (Press Release)

List of Publicly registered shareholders:

  • Corriente Advisors LLC (United States)
  • Horizons ETFs Management (Canada), Inc
  • Jennison Associates LLC (United States)
  • Federated Global Investment Management Corp (United States)
  • I.A. Michael Investment Counsel Ltd (Canada)
  • Fideuram Asset Management (Ireland) DAC
  • Purpose Investments, Inc. (Canada)
  • Gilder, Gagnon, Howe & Co. LLC(United States)
  • K2/D&S Management Co. LLC(United States)
  • BlackRock Advisors (UK) Ltd.
  • StoneCastle Investment Management, Inc. (Canada)
  • Baader Bank AG (Investment Management) – (Germany)
  • ATL 12 Capital Gestion SGIIC SA (Spain)
  • IFP Advisors, Inc. (United States)
  • Investment Research Corp. (United States)

After the last $161M secondary offering, Charlotte’s Web now has the highest institutional ownership in cannabis sector.

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Disclaimer: All posts made on this website are provided for information purposes only. None of the information here is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, Company, or fund. Before making an investment decision, you should seek the advice of a qualified and registered securities professional. 
The author is not paid to share this information and may or may not own shares in the company.

3 thoughts on “Highest Institutional Ownership in Cannabis Sector, Charlotte’s Web (TSX: CWEB)

  1. Thanks! Great to see this information and well deserved by Charlotte’s web. Do you think NYSE or NASDAQ listing is going to increase institutional shareholding and also the pedigree of institutions as well?

    Like

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