Sundial Growers Plans $130 Million IPO for August 1st (SNDL)

Sundial Growers (SNDL) plans to raise $130 million in an initial public offering (IPO) on Thursday, August 1st, IPO Scoop reports. The company will issue 10,000,000 shares at $12.00-$14.00 per share.

In the last twelve months, Sundial Growers generated $10.8 million in revenue and had a net loss of $22.8 million. The company has a market-cap of $1.1 billion.

Cowen, BMO Capital Markets and Barclays served as the underwriters for the IPO.

Sundial Growers provided the following description of their company for its IPO: “Sundial’s mission is to proudly craft pioneering cannabis brands to Heal, Help and Play. We view these as three distinct consumer opportunities, defined as follows: Heal— cannabis products used as prescription medicine  Help— cannabis products that strive to promote overall health and wellness through CBD Play— cannabis products to enhance social, spiritual and recreational occasions “.

Sundial Growers was founded in 2006 and has 937 employees. The company is located at #200, 919 – 11 Avenue SW, Calgary, Alberta, Canada T2R 1P3 and can be reached via phone at (403) 948-5227 or on the web at http://www.sundialcannabis.com.

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