TORONTO, Nov 8 (Reuters) - U.S. cannabis retailer Harvest Enterprises Inc is set to raise $230 million (C$303 million) in a deal that would value the company at about $1.5 billion when it goes public in Toronto as early as next week, people familiar with the situation told Reuters on Thursday.
The Tempe, Arizona-based company had initially targeted $50 million through the offer, but increased the deal value to $230 million in response to strong demand, the people said. The offer, which is set to be priced at $6.55 per share, is expected to close as early as this week.
An external spokesman for the company declined to comment on the details of the offering. The sources declined to be identified as the information is not public. (Reporting By Nichola Saminather and John Tilak; Editing by Denny Thomas and Susan Thomas)