4Front Holdings, LLC, a Phoenix, AZ-based cannabis retail and brand development company, completed a private placement of equity securities for gross proceeds of approximately $31m.
Eight Capital, based in Toronto, acted as lead agent and bookrunner in connection with the offering, with a syndicate of agents that included Cormark Securities, Bayfront Capital Partners, and Infor Financial.
The company will use the proceeds to fund its ongoing investment in talent, the buildout in multiple states of its Mission-branded dispensaries and cultivation facilities, as well as for M&A opportunities.
Led by Josh Rosen, CEO and co-founder, 4Front is a retail and brand development company has developed a national platform that consists of a multi-state footprint, including its Mission-branded retail operations, and a far-reaching network of partnership relationships. The company has assembled a comprehensive collection of management skills and hands-on operating expertise that can support the rapid operational growth opportunity being afforded by the increased legalization of cannabis across the United States, as well as internationally.