Bright Green Corp to raise $500 mln to further drug development

Bright Green

01/02/2023 16:45

** Shares of Bright Green Corporation  BGXX.O  more than
double to $1.1 - record pct gain ever
    ** Cannabis product maker plans to raise $500 mln under
immigrant investor program, EB-5, to develop manufacturing
facilities in Mexico, and further drug development  urn:newsml:reuters.com:*:nGNX7mKnBp
    ** The capital will help generate 7,100 direct and indirect
jobs in Mexico and across U.S.
    ** EB-5 is a program under which investor, their spouses and
children under 21 can become eligible for green card upon making
necessary commercial investment in U.S.
    ** Under the program, BGXX to issue stock at a price of
$39.99 per share, subject to regulatory approvals
    ** BGXX down ~94% since its IPO last year  
 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))