CAUTION: We have been advised that fraudulent emails with a modified domain name have been sent by a source purporting to be from Aird & Berlis LLP. These communications are not legitimate and are not from Aird & Berlis LLP. Disregard any such emails and do not engage with the sender or the email in any way. Please report the attempted fraud by contacting the Canadian Anti-Fraud Centre and by emailing Aird & Berlis LLP at help@airdberlis.com.

Back to all Representative Matters
Feb 18, 2021

Harborside Inc. Completes $35 Million Private Placement

Sherri M. Altshuler, Adria Leung Lim, Amy Marcen-Gaudaur and Meredith McCann

Harborside Inc. (“Harborside”), a California-focused, vertically-integrated cannabis enterprise, recently completed a brokered private placement offering of units for aggregate gross proceeds of approximately $35 million. The offering was completed on an agency basis led by Beacon Securities Limited and ATB Capital Markets.

The offering closed on February 18, 2021 through the issuance of subordinate voting share units (“SVS Units”) and multiple voting share units (“MVS Units”). The SVS Units were issued to non-residents of the United States, with each SVS Unit comprised of one subordinate voting share (an “SVS”) and one SVS purchase warrant. Each warrant is exercisable to acquire one SVS for a period of 36 months following closing at an exercise price of $3.69 per SVS, subject to adjustment and acceleration. All investors that were considered residents of the United States under applicable United States  securities law were issued MVS Units comprised of multiple voting shares (“MVS”) and MVS purchase warrants, based on the same economic equivalency of each MVS converting into 100 SVS.

Aird & Berlis LLP represented Harborside with a team comprising Sherri Altshuler, Adria Leung Lim, Amy Marcen-Gaudaur, Meredith McCann and David Mba (corporate and securities).

Related Industries

Related Representative Matters

Representative Matters
D2L Completes Initial Public Offering Jeffrey K. Merk Nov 09, 2021 D2L Inc. closed its initial public offering of Subordinate Voting Shares consisting of a treasury... D2L Inc. closed its initial public offering of Subordinate Voting Shares consisting of a treasury offering of 5,489,757 Subordinate Voting Shares by D2L and a secondary offering of 3,335,243 Subordinate Voting Shares by the Desire2Learn Employee Stock Trust.
Representative Matters
Spectra7 Microsystems Inc. Completes $14.8 Million Private Placement Richard M. Kimel and Sean Green Oct 29, 2021 Spectra7 Microsystems Inc., a leading provider of high-performance analog semiconductor products ... Spectra7 Microsystems Inc., a leading provider of high-performance analog semiconductor products for broadband connectivity markets, completed a brokered private placement of 11,183,990 common shares at a price of $1.32 per common share for aggregate gross proceeds of approximately $14.8 ...
Representative Matters
Baylin Technologies Inc. Completes $15 Million Private Placement Richard M. Kimel, Adria Leung Lim, Amy Marcen-Gaudaur and Meredith McCann Oct 26, 2021 Baylin Technologies Inc., a leading, diversified, global technology company, recently completed a... Baylin Technologies Inc., a leading, diversified, global technology company, recently completed a private placement offering of 17,648,000 common shares at a price of $0.85 per common share for aggregate gross proceeds of approximately $15 million.