Marijuana industry lender Chicago Atlantic Real Estate Finance is planning an initial public offering on the Nasdaq stock exchange. The Chicago-based company plans to be taxed as a real estate investment trust and “provide attractive, risk-adjusted returns for stockholders over time,” according to a news release issued Monday.
Under the IPO, Chicago Atlantic would sell 6.25 million shares of common stock, or roughly 35.9% of the company’s common stock, according to an amended prospectus dated Nov 30. The stock would be sold for $16-$18 per share, and the underwriters would have a 30-day option to purchase additional shares. To read more, click on MJBusiness Daily
