urban-gro closes $62 million public offering

LAFAYETTE: urban-gro Inc. announced the closing of its previously announced public offering of 6,210,000 shares of the Company’s common stock at a public offering price of $10.00 per share, which includes 810,000 shares sold upon full exercise of the underwriter’s option to purchase additional shares.

The gross proceeds from the offering, including the exercise of the over-allotment option, were $62,100,000 before deducting underwriting discounts, commissions and offering expenses.

The Company intends to use the net proceeds to support organic growth, to expand in the European CEA market, for general corporate purposes, including to fund potential future investments and acquisitions of companies that the Company believes will complement its business and growth strategy, and to repay certain outstanding indebtedness.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering.

urban-gro, Inc. is a leading engineering design and services company focused on the commercial horticulture market.  We engineer and design commercial Controlled Environment Agriculture (CEA) facilities and then integrate complex environmental equipment systems into these high-performance facilities.  Operating in the global market, our custom-tailored approach to design, procurement, and equipment integration provides a single point of accountability across all aspects of growing operations. www.urban-gro.com

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