Eversheds-Led Cannabis REIT Launches Plans For $ 106 Million IPO


By Andrew McIntyre (Nov 29, 2021, 5:47 p.m. EST) – Cannabis real estate investment trust Chicago Atlantic Real Estate Finance on Monday set terms for an initial public offering that could raise $ 106 million mid-term and detailed a separate $ 7.5 million private placement with advice from Eversheds Sutherland and underwriters’ advisor Cozen O’Connor.

Chicago Atlantic Real Estate Finance Inc., which provides loans to cannabis companies, plans to sell 6.25 million shares at a price of between $ 16 and $ 18 a share. If the underwriters fully exercise an option to purchase an additional 937,500 shares, the company would sell a total of 7,187,500 shares, according to a filing with the US Securities and Exchange.

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