The company created by the Stanley Brothers in Colorado that makes Charlotte’s Web Hemp Oil CBD is now a publicly traded company.
Here are some basic details about the IPO (Initial Public Offering):
Company Name: Charlotte’s Web Holdings
Exchange: CSE (Canadian Securities Exchange)
Expected IPO Price: $7.00
Issuing approx. 14.3 Million shares
Offering raising approx. C $100 million with about C $93 Million going to the company and about C $6.9 Million going to selling shareholders.
Cannaccord Genuity Corp
GMP Securities LP
PI Financial Corporation
Comark Securities Inc
Charlotte’s Web Holdings Inc is the creator and distributor of Charlotte’s Web CBD Hemp Oil. The company was founded by the Stanley Brothers in Colorado, gained notoriety after they were profiled on a CNN television special about marijuana hosted by Dr. Sanjay Gupta.
The company products include tinctures, capsules, and topical products.
The company had $40 million in revenue for 2017. That was a 172% increase over 2016’s revenue of $14.7 million.
E-commerce sales have grown by 60% from 2016 to 2017 and the company products are sold in 2,700 retail locations.
The product has a CBD oil market share of approximately 14%.
The company grows its hemp on farms leased in northeastern Colorado and acquires additional hemp for its’ products through contract farming operations in Kentucky and Oregon.