Tilray Inc. announced on July 9th the company’s initial public offering (IPO) has officially launched. The company has submitted its application to list onto the Nasdaq Global Select Market and trade under the symbol of “TLRY”.
The company is offering 9 million shares of Class 2 common stock at a price between $14 and $16 per share. Tilray is also allowing the IPO underwriters a 30-day over-allotment that would make 1,350,000 additional shares available for purchase.
There is also a filed preliminary prospectus for an IPO in Canada with the independent regulatory authorities in all Canadian provinces, except Quebec. This preliminary prospectus was done to ensure that Canadian purchasers of TLRY stock are not subjected to any resale restrictions. Tilray does not have any intention of listing on any Canadian stock exchange.