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Flora Growth Corp. (NASDAQ:FLGC) published a blog post on Thursday providing an update on the company’s financials and progress, according to a statement filed with the Securities and Exchange Commission. The blog post was furnished as Exhibit 99.1 to the company’s Form 8-K and is incorporated by reference in the filing.
The company, organized under the laws of Ontario with principal executive offices in Fort Lauderdale, Florida, did not include the full content of the blog post in the SEC filing. The filing specifies that the information provided is for Regulation FD Disclosure and is not considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.
Flora Growth indicated that the blog post contains forward-looking statements, which are subject to risks and uncertainties. The company cited factors such as fluctuations in the market price of 0G, its native cryptocurrency holdings, volatility in its share price, interest rate changes, regulatory compliance, and access to capital as potential risks that could affect its actual results and financial condition.
The company stated that it is an emerging growth company as defined by SEC rules. Flora Growth’s common shares are listed on the NASDAQ Capital Market under the ticker symbol FLGC.
This information is based on a press release statement included in the company’s Form 8-K filed with the SEC.
In other recent news, Flora Growth Corp. has filed a prospectus supplement for a $3.45 million at-the-market offering, allowing the company to sell additional common shares through its ATM program. This follows the termination of a previous prospectus under which Flora Growth sold shares totaling $129,482. In a strategic move, DeFi Development Corp. has partnered with ZeroStack, involving a private placement transaction with Flora Growth as it plans to rebrand as ZeroStack. Additionally, Flora Growth announced the passing of Harold Wolkin, an independent director, which has resulted in the company no longer meeting certain Nasdaq corporate governance requirements. Despite this, Flora Growth has regained compliance with Nasdaq’s minimum bid price requirement after a previous notice of non-compliance. The company also enacted a 1-for-39 reverse stock split of its common shares, with trading on a post-split basis now in effect. These developments reflect significant changes and strategic maneuvers within Flora Growth Corp.
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