LAFAYETTE: urban-gro Inc. announced the pricing of an underwritten public offering of 5.4 million shares at a public offering price of $10 per share for aggregate gross proceeds of $54 million.

In addition, urban-gro has granted the underwriters a 45-day option to purchase up to an additional 810,000 shares of common stock at the public offering price less the underwriting discounts and commissions.

The offering is expected to close on February 17, 2021, subject to satisfaction of customary closing conditions.

The Company has received approval to list its common stock on the Nasdaq Capital Market under the symbol “UGRO” and is expected to begin trading on February 12, 2021.

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., is acting 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. They 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, the 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