On August 6, 2019, Sundial Growers Inc. completed its initial public offering in the United States and Canada for gross proceeds of US$143 million. Sundial Growers Inc. intends to use the proceeds from the IPO to complete the construction, expansion, and transition of its cultivation and processing facilities. This was only the second IPO by a Canadian Cannabis company with a U.S. stock exchange listing (on NASDAQ) as its initial listing at the time of the IPO, with the other being Tilray’s IPO, where Osler was also U.S. and Canadian counsel to the underwriters.
Cowen and Company, LLC is an American multinational independent investment bank and financial services company that operates through two business segments: a broker-dealer and an investment management division.
Osler, Hoskin & Harcourt LLP represented the underwriting syndicate as U.S. and Canadian legal counsel with a team led by Rob Lando (U.S. and Canadian Securities) and including Jie Chai (U.S. Securities), Justin Sherman and Jacob Young (Canadian Securities), Ethan Chang (U.S. Securities Counsel) and Marty Putyra (Regulatory).