Like her fictional namesake from the classic children’s book, Charlotte’s Web was named for real-life child heroine, Charlotte Figi. Young Charlotte suffered from several seizures per day due to Dravet syndrome ( previously known as severe myoclonic epilepsy of infancy) until she was treated with the oil that evolved into Charlotte’s Web.
Trading quotes CWEB on the CSE can be found on several sites including CWEB on Stockwatch , CWEB on TMX Money and CWEB on The CSE.
“With our transition to a publicly traded company, I’d like to think that Charlotte’s Web represents a different kind of investment. One where our customers and shareholders can also participate in the success of a brand and story built out of compassion, care and trust,” Stanley says.
(TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web," "CW" or the "Company"), the market leader and manufacturer of The World's Most Trusted Hemp Extract™, has completed a reorganization to drive agility and growth as the Company prepares to launch new products, channels and markets, with intent to return to positive cash flow in 2022. The changes follow the Company's new leadership announcement issued on December 16, 2021.
The stock is currently trading at C$11.56 per share.
The company also plans on going through with a previously announced non-brokered private placement of up to 875,137 shares, at a price of C$7.00 per share, which will be subject to a four month hold period in keeping with Canadian securities laws.
It has been a busy, yet quiet week for the hemp-based CBD oil producer Charlotte’s Web Holdings, Inc. On August 30, 2018, the company reported the successful closing of its previously announced initial public offering (IPO), as well as a secondary offering of its common shares.
On the same day that Charlotte’s Web closed their IPO, the company began trading on the Canadian Securities Exchange (CSE) under the symbol “CWEB.” Despite being one of the largest hemp companies in the world, there has been little fanfare in response to closing the largest IPO in the history of hemp.
Although other companies in the hemp and cannabis industry have raised significant sums of money through public offerings, what distinguishes this IPO from others is Charlotte Web’s strong revenues compared to others in the hemp industry.
IPO proceeds are expected to be used on international expansion, distribution and acquisition of strategic and complimentary companies, as reported by the company.
Charlotte’s Web sold 13,312,150 common shares of the company for a total of C$93,185,050. Additionally, shareholders sold 3,132,850 commons shares of the company as part of a secondary offering and an over-allotment option, for a total of C$21,929,950; although the company did not receive any of the proceeds from the secondary offering or the over-allotment option. Taking charge of the IPO was a syndicate of underwriters led by Canaccord Genuity Corp.