Flora Growth Corp. Files 8-K for Material Agreement
Ticker: ZSTK · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1790169
| Field | Detail |
|---|---|
| Company | Flora Growth Corp. (ZSTK) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.90, $2.8 m, $75,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
TL;DR
Flora Growth Corp. signed a material deal on 4/4/24, filed 8-K on 4/8/24.
AI Summary
Flora Growth Corp. filed an 8-K on April 8, 2024, reporting a material definitive agreement entered into on April 4, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Ontario and its principal executive offices are located in Fort Lauderdale, Florida.
Why It Matters
This filing indicates Flora Growth Corp. has entered into a significant agreement, which could impact its business operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's future performance.
Key Players & Entities
- Flora Growth Corp. (company) — Registrant
- April 4, 2024 (date) — Date of material definitive agreement
- April 8, 2024 (date) — Filing date of the 8-K
- Ontario (jurisdiction) — State of incorporation
- Fort Lauderdale, Florida (location) — Principal executive offices
FAQ
What is the nature of the material definitive agreement Flora Growth Corp. entered into?
The filing does not specify the details of the material definitive agreement, only that one was entered into on April 4, 2024.
When was this 8-K filing submitted to the SEC?
The 8-K filing was submitted on April 8, 2024.
Where are Flora Growth Corp.'s principal executive offices located?
Flora Growth Corp.'s principal executive offices are located at 3406 SW 26th Terrace, Suite C-1, Fort Lauderdale, Florida, 33312.
Under which section of the Securities Exchange Act is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is Flora Growth Corp.'s Standard Industrial Classification code?
Flora Growth Corp.'s Standard Industrial Classification code is 2834, for Pharmaceutical Preparations.
Filing Stats: 842 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-04-08 06:33:20
Key Financial Figures
- $1.90 — n Share , at a public offering price of $1.90 per Common Share. The offering is expe
- $2.8 m — pany for the offering was approximately $2.8 million, after deducting the underwriting
- $75,000 — of its expenses, in an amount of up to $75,000, including legal fees. The Underwritin
Filing Documents
- form8k.htm (8-K) — 17KB
- exhibit1-1.htm (EX-1.1) — 204KB
- exhibit5-1.htm (EX-5.1) — 13KB
- exhibit5-1xu001.jpg (GRAPHIC) — 7KB
- exhibit5-1xu002.jpg (GRAPHIC) — 6KB
- 0001062993-24-008121.txt ( ) — 521KB
- flgc-20240404.xsd (EX-101.SCH) — 5KB
- flgc-20240404_cal.xml (EX-101.CAL) — 1KB
- flgc-20240404_def.xml (EX-101.DEF) — 22KB
- flgc-20240404_lab.xml (EX-101.LAB) — 46KB
- flgc-20240404_pre.xml (EX-101.PRE) — 25KB
- form8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On April 4, 2024, Flora Growth Corp. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Aegis Capital Corp. ("Aegis") as underwriter (the "Underwriter"), relating to the offering, issuance and sale of up to 1,700,000 of the Company's c ommon shares ("Common Shares"), no par value per Common Share , at a public offering price of $1.90 per Common Share. The offering is expected to close on April 8, 2024. The Company's common shares are listed on the Nasdaq Stock Market. The net proceeds to the Company for the offering was approximately $2.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses. The offering of the securities described above was made pursuant to the Company's effective shelf registration statement on Form S-3 (Registration No. 333-274204), filed with the Securities and Exchange Commission (the "SEC") on August 25, 2023 and amended on August 30, 2023, which was declared effective, on September 6, 2023, and the base prospectus included therein, as supplemented by the preliminary prospectus filed with the SEC on April 4, 2024 and the final prospectus with the SEC on April 5, 2024. Aegis acted as sole underwriter for the offering. We agreed to provide Aegis an underwriting discount of 7.0% for underwriter-introduced investors and an underwriting discount of 3.0% for Company-introduced investors. We reimbursed Aegis for certain of its expenses, in an amount of up to $75,000, including legal fees. The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriter, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 1.1 Underwriting Agreement, dated April 4, 2024, by and between the Company and Aegis Capital Corp. 5.1 Opinion of Miller Thomson LLP 23.1 Consent of Miller Thomson LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. FLORA GROWTH CORP. Date: April 8, 2024 By: /s/ Clifford Starke Name: Clifford Starke Title: Chief Executive Officer