Charlotte’s Web closes CA$140 million share offering

Charlotte’s Web, a Colorado-based CBD manufacturer, said it has raised 140 million Canadian dollars ($105 million) in a share offering.

The move, in which existing shareholders sold some of their shares, was part of the company’s plans to raise up to CA$500 million.

The overall raise will likely be used for possible acquisitions, funding ongoing operations and potential international expansion, the company said.

Charlotte’s Web trades on the Canadian Securities Exchange under the ticker CWEB.

More details on the latest offering, which could rise to CA$161 million, can be found here.