fbpx
Blog thumbnail

American Hemp Firm Boosts IPO to $77 Million

Blog thumbnail in

Interest in hemp is at an all-time high, especially since Charlotte’s Web, a company that makes products from CBD, increased its IPO to $77 million which is a 52% increase. In previous reports, the company had plans to price the IPO at between $6 and $7 a share. What’s more surprising is the fact that the company has since experienced a lot of traction in terms of the purchases, with more people buying into the IPO than they had expected.

This is not the first time that a US company makes headlines for an insane interest in hemp. Earlier in the year, MedMen Enterprises Inc. was listed in the Canadian Securities Exchange through a reverse takeover.

What does this mean for the industry? Hemp, and cannabis products in general, have been receiving increased attention in recent years. This comes from the fact that a lot of people are increasingly interested in purchasing hemp products for their medicinal and cosmetic benefits. Given that states in the US have been legalizing the use of marijuana for different purposes, as has been the case in Canada, there’s a lot to look forward to. This opens up opportunities for growth and increases the prospect for the use of hemp products.

Who is Charlotte’s Web?

Charlotte’s Web is a company that was incorporated for the purpose of acquisition and holdings of all capital stock held in lieu of CWB Holdings, Inc. CWB Holdings is one of the industry’s biggest players in the production and distribution of CBD wellness products. The products from CWB Holdings are produced from some of the purest proprietary hemp strains, which means that consumers get the full spectrum of CBD products, including hemp compounds, flavonoids, and terpenes. Some of the other products that CWB Holdings has introduced into the market include topical application hemp products, capsules, and tinctures.

Early in July, Charlotte’s Web rebranded from Stanley Brothers Holdings. The increased demand for their stock is a sign of burgeoning interest from users and enthusiasts as it shows a lot of promise.

Charlotte’s Web came to the limelight in 2013, when they were featured in a CNN documentary, Weed. In this documentary, they highlighted some of the special product lines that they have, producing CBD products specifically for pediatrics who suffer from epilepsy.

There are plans to expand operations by tapping into new markets, especially in South America, Europe, and Asia. At the moment, Charlotte’s Web has more than 150 employees, and the cultivation farms are concentrated in Oregon and Kentucky where they have source contracts with the local farmers.

According to their executives, proceeds from the IPO will go towards the production and introduction of new products. The company expects to launch at least seven new products in 2019, which is in line with their desire to grow and push the brand globally. If there was ever a time to invest in cannabis, this is the perfect time, and probably one of the best companies to invest in.

Shopping cart

0

No products in the cart.

Hit Enter to search or Esc key to close