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Glass House Brands ( ($TSE:GLAS.A.U) ) just unveiled an announcement.
Glass House Brands Inc. has announced a recapitalization and private placement of Series E Convertible Preferred Stock to replace its existing Series B and C Preferred Stock. This move is expected to streamline the company’s capital structure, offering a 12% annual dividend to investors and providing a conversion option into common stock. The transaction, which is nearly fully subscribed, includes significant participation from existing investors and company insiders, and is anticipated to raise approximately $77.5 million. This strategic financial restructuring is designed to enhance Glass House’s market positioning and operational flexibility in the competitive cannabis industry.
The most recent analyst rating on ($TSE:GLAS.A.U) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Glass House Brands stock, see the TSE:GLAS.A.U Stock Forecast page.
More about Glass House Brands
Glass House Brands Inc. is a rapidly expanding, vertically-integrated cannabis company in the United States. It focuses on cultivating, manufacturing, and distributing cannabis products, aiming to capture a significant share of the growing cannabis market.
For a thorough assessment of GLAS.A.U stock, go to TipRanks’ Stock Analysis page.