Glass House Brands Inc., one of the fastest-growing, vertically integrated cannabis companies in the U.S., today announced the closing of the first tranche of the previously announced non-brokered private placement (the "Offering") of Series B Preferred Stock, face value US$1,000 per share of GH Group, Inc. ("GH Group"), a subsidiary of the Company.
The initial closing of the Offering included approximately US$14.7 million of new money invested and approximately US$22.6 million face value of existing Series A Preferred Stock exchanged for new Series B Preferred Stock. The Company expects to complete the Offering in the next 30 days.
Known for solutions that yield results, Seth Yakatan has completed or advised on acquisitions and corporate finance transactions totaling over $3 billion. He is CEO of Katan Associates International—a financial strategy and merchant banking firm specializing in commercialization and asset monetization—especially those within life-science and e-commerce sectors.