Flora Growth Corp (NASDAQ:FLGC) shares are trading lower by 4.1% to $1.41 on going into the close of Wednesday’s session after the company recently announced the pricing of a $2.7 million registered direct offering and concurrent private placement.
The company says it expects to use the net proceeds from the offering to increase operating capacity, for working capital and for other general corporate purposes.
The offering is expected to close on or about September 21, subject to satisfaction of customary closing conditions.
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According to data from Benzinga Pro, FLGC has a 52-week high of $20.60 and a 52-week low of $1.35.
