Bright Green Shares Rise 84% on Plans to Raise $500M EB-5 Investment
Bright Green Corp. shares were up 84% to 96 cents after the company said it plans to raise $500 million under the U.S. Citizenship and Immigration Services' EB-5 capital program.
Shares hit their 52-week low of 35 cents on Dec. 28 and are up 31% over the past three months. The stock made its trading debut on May 17 last year.
The U.S. Citizenship and Immigration Services' EB-5 Program allows eligible investors, their spouses, and unmarried children under 21 years of age to apply for a permanent residence visa if they make an investment in a U.S. commercial enterprise that creates or preserves a minimum of 10 permanent full-time jobs for qualified U.S. workers.
The New Mexico cannabis company expects to use the capital raised from the EB-5 program to generate more than 7,100 jobs across the U.S., develop production and drug manufacturing facilities in New Mexico, and support drug research, development, and FDA clinical trials.
Bright Green plans to issue common stock through private placements under the EB-5 program, at a price of $39.99 per share.
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
