Foley Hoag Represents Trulieve in Public Offering

April 14, 2021

Foley Hoag LLP represented Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) in its marketed public offering of 5,000,000 subordinate voting shares in the United States and Canada at a public offering price of C$50.00 per share ($39.63 per share after giving effect to the conversion rate published by Bloomberg at 4:30pm ET on April 7, 2021 to convert Canadian dollars to U.S. dollars), which closed on April 12, 2021. In connection with the closing of the offering, the underwriters exercised in full their option to purchase an additional 750,000 subordinate voting shares. The gross proceeds to Trulieve from the offering, before deducting underwriting discounts and commissions and offering expenses, were C$287.5 million (or $227.9 million after giving effect to the conversion rate denoted above). Trulieve intends to use the net proceeds from the offering for business ‎development and general working capital purposes‎.

Trulieve is the first and largest fully licensed medical cannabis company in the State of Florida and holds licenses to operate in California, Massachusetts, Connecticut, Pennsylvania and West Virginia. Primarily a vertically integrated "seed-to-sale" company in the US, Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded dispensaries throughout the State of Florida, as well as directly to patients via home delivery. 

Foley Hoag attorneys Stacie Aarestad, Ryan Rourke Reed, Caroline Samp, Alyssa Pratt, Anna Snook, Shaida Mirmazaheri, Shir Wisenberg and Sarah Moore represented Trulieve in the transactions. 

About Foley Hoag LLP

Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and business services professionals contribute to the exceptional service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit or follow @FoleyHoag on Twitter.