4Front Raises $31 Million In Oversubscribed Funding Round
Leading US cannabis retail and brand development company 4Front Holdings, LLC, completed a private placement of equity securities for gross proceeds of $31 million. Due to strong investor demand, the offering size was increased from its initial amount of $15 million. Toronto-based Eight Capital acted as 4Front’s lead agent and bookrunner for a syndicate of agents that included Cormark Securities Inc., Bayfront Capital Partners, Ltd., and INFOR Financial Inc.
4Front plans to use the proceeds to invest in top-tier talent, a multiple-state buildout of its Mission-branded dispensaries and cultivation facilities, and for M&A opportunities.