Cannabis MSO Jushi seeks to raise up to $397.3 million

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Marijuana multistate operator Jushi Holdings plans to raise up to 500 million Canadian dollars ($397.3 million) by way of a new preliminary short form base shelf prospectus filed in Canada.

The funding will be used “in order to maintain financial flexibility, including for responding to significant regulatory improvements and pursuing opportunistic acquisitions,” Florida-based Jushi said Thursday in a news release.

After the shelf prospectus is finalized, Jushi will raise the CA$500 million through a combination of subordinate voting shares, subscription receipts, debt securities, convertible securities, warrants, and units over a 25-month period.

Jushi secured a $100 million credit facility in October.

The company has been expanding in markets such as Massachusetts, Nevada and Ohio.

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The company trades on the Canadian Securities Exchange under the ticker symbol JUSH and as JUSHF on the U.S. over-the-counter markets.