Altmore BDC Inc. on Wednesday set an estimate price range for its upcoming initial public offering as the second cannabis-focused business development company to move toward the public market this month.
McLean, Va.-based Altmore BDC will raise about $100 million based on the midpoint of its estimated price range of $14.50 to $15.50 per share, with 6.66 million shares offered in the IPO.
Ladenburg Thalmann, Compass Point and Oppenheimer & Co are underwriting the BDC, which will trade on the Nasdaq under the symbol ABDC, according to a filing.
Steven Ham, chairperson of Altmore’s board of directors, previously worked as chief financial officer of N12 Technologies Inc. and was a partner at Rainmaker Company. He’s been a manager at Altmore Capital, which will serve as Altmore BDC’s investment adviser and oversee its operations, since 2017. The BDC was founded in June of 2021.
“We intend to…