Flora Growth Corp. Enters Material Definitive Agreement
Ticker: ZSTK · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1790169
| Field | Detail |
|---|---|
| Company | Flora Growth Corp. (ZSTK) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.67, $709,750 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
TL;DR
Flora Growth Corp. signed a big deal, filing 8-K on Dec 12.
AI Summary
Flora Growth Corp. announced on December 10, 2024, that it has entered into a material definitive agreement. The company, incorporated in Ontario, filed a Form 8-K with the SEC, detailing this significant business development. The filing was made on December 12, 2024.
Why It Matters
This filing indicates a significant new contract or partnership for Flora Growth Corp., which could impact its future revenue and operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can carry inherent risks related to the terms, counterparty, and execution of the agreement.
Key Numbers
- 001-40397 — SEC File Number (Flora Growth Corp.'s SEC file number)
Key Players & Entities
- Flora Growth Corp. (company) — Registrant
- December 10, 2024 (date) — Date of earliest event reported
- December 12, 2024 (date) — Filing date
- Ontario (jurisdiction) — State of incorporation
- 3230 W. Commercial Boulevard, Suite 180 (address) — Principal executive offices
- Fort Lauderdale, Florida (location) — Principal executive offices location
FAQ
What is the nature of the material definitive agreement Flora Growth Corp. entered into?
The filing does not specify the exact nature of the material definitive agreement, only that one has been entered into as of December 10, 2024.
When was this Form 8-K filed with the SEC?
This Form 8-K was filed on December 12, 2024.
What is Flora Growth Corp.'s principal executive office address?
Flora Growth Corp.'s principal executive office is located at 3230 W. Commercial Boulevard, Suite 180, Fort Lauderdale, Florida, 33309.
In which jurisdiction is Flora Growth Corp. incorporated?
Flora Growth Corp. is incorporated in Ontario.
What is the SEC file number for Flora Growth Corp.?
Flora Growth Corp.'s SEC file number is 001-40397.
Filing Stats: 660 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-12-12 16:46:36
Key Financial Figures
- $1.67 — of 425,000 common shares at a price of $1.67 per share, for aggregate gross proceeds
- $709,750 — egate gross proceeds of approximatively $709,750. The Shares to be issued in the Offer
Filing Documents
- form8k.htm (8-K) — 16KB
- exhibit1-1.htm (EX-1.1) — 128KB
- exhibit1-1x001.jpg (GRAPHIC) — 2KB
- exhibit1-1xu001.jpg (GRAPHIC) — 6KB
- 0001062993-24-020536.txt ( ) — 410KB
- flgc-20241210.xsd (EX-101.SCH) — 5KB
- flgc-20241210_cal.xml (EX-101.CAL) — 1KB
- flgc-20241210_def.xml (EX-101.DEF) — 22KB
- flgc-20241210_lab.xml (EX-101.LAB) — 46KB
- flgc-20241210_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 December 10, 2024, Flora Growth Corp., a corporation organized under the laws of the Province of Ontario (the "Company"), entered into a Placement Agent Agreement with Aegis Capital Corp. (the "Placement Agent Agreement") relating to an offering of up to 44,910,179 common shares, no par value per share (the "Offering"). Under the terms of the transaction and pursuant to separate subscription agreements entered into between the Company and certain institutional investors on December 10, 2024 and December 11, 2024, respectively (the "Subscription Agreements"), the Company agreed to sell an aggregate of 425,000 common shares at a price of $1.67 per share, for aggregate gross proceeds of approximatively $709,750. The Shares to be issued in the Offering were offered pursuant to the Company's Offering Statement on Form 1-A (Registration No. 024-12465), initially filed by the Company with the United States Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended, on July 16, 2024, as subsequently amended with the SEC on each of August 7, 2024, October 15, 2024, and November 22, 2024, and most recently qualified by the SEC on November 29, 2024. The foregoing does not purport to be a complete description of the Placement Agent Agreement and Subscription Agreements and is qualified in its entirety by reference to the full text of the documents, which are filed as Exhibit 1.1 and Exhibit 1.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 1.1 Placement Agent Agreement, between Flora Growth Corp. and Aegis Capital Corp., dated December 10, 2024 1.2 Form of Subscription Agreement (incorporated by reference to Exhibit 4.1 of the Form 1-A offering statement (File No. 024-12465) filed on August 7, 2024) 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: December 12, 2024 By: /s/ Clifford Starke Name: Clifford Starke Title: Chief Executive Officer