Federally authorized cannabis provider Bright Green in an amended S-1 filing said its direct listing would begin May 12 — the second delay this week. The company had planned to launch the offering Monday on the Nasdaq, then announced May 11 as the new date. The company expects to offer 158.25 million shares.
Bright Green produces cannabis products for research applications.
Shares are expected to list under the symbol BGXX. None of the company’s shareholders will be subject to the standard 180-day lock-up agreement.
Bright Green sold 300,000 shares earlier this month at $10 each, according to a filing last week. At that price, the company would have a market value of about $1.6 billion.
EF Hutton is an advisor on the offering. Read more.
