Cannabinoids-products maker sets price range for IPO

  • Maverick Lifestyle to sell 800,000 shares in IPO
  • Shares priced between $4.50 and $5.50 each
  • Expects net proceeds of about $3.2 million
  • Proceeds to be used for marketing, advertising, and hiring personnel
  • Applied to list shares on Nasdaq Capital Market

Cannabinoids-products maker Maverick Lifestyle plans to sell 800,000 shares at between $4.50 and $5.50 apiece in its initial public offering. At the $5 midpoint of the price range, the Stantonsburg, N.C., maker of products infused with hemp-derived cannabinoids said it expects net proceeds of about $3.2 million, or roughly $3.7 million if the underwriters exercise an option to buy an additional 120,000 shares. Maverick plans to use the bulk of the proceeds for marketing and advertising and to hire personnel. The company said it has applied to list its shares on the Nasdaq Capital Market under the symbol MVRK.

Public Companies: Maverick Lifestyle (MVRK)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides factual information about Maverick Lifestyle’s plans to sell shares in its initial public offering, the expected net proceeds, and the intended use of the funds. The information is specific and does not contain any obvious bias or misleading statements. However, it lacks additional context or background information about the company or the market for cannabinoid products.

Noise Level: 7
Justification: The article provides basic information about Maverick Lifestyle’s initial public offering, including the number of shares being sold, the expected price range, and the intended use of proceeds. However, it lacks in-depth analysis, scientific rigor, and evidence to support its claims. It also does not explore the long-term trends or consequences of the company’s decisions. Overall, the article is relatively straightforward and does not provide much actionable insight or new knowledge.

Financial Relevance: Yes
Financial Markets Impacted: Nasdaq Capital Market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial topic of Maverick Lifestyle’s initial public offering and its plans to sell shares on the Nasdaq Capital Market.

Reported publicly: www.marketwatch.com