Federally authorized cannabis provider Bright Green in a regulatory filing said it would offer 158.25 million shares in a diredct listing on the Nasdaq starting May 9. The company produces cannabis products for research applications.
Only shares owned by existing stockholders will be offered; the company does not intend to raise more capital through the direct listing.
Bright Green in the last year has issued stock ranging in price from $2 to $10 per share, most recently 300,000 shares this month at $10 each, according to the filing.
The company did not disclose a reference price for the direct listing.
Bright Green has applied to list on the Nasdaq under the symbol BGXX. Read more.
