UC Asset LP has announced the filing of Form 1A for a secondary public offering, intending to issue up to $10 million in preferred shares with an 8% annual dividend. The offering is pending SEC review. The funds will primarily be used to expand their cannabis property portfolio, reflecting confidence in a potential growth wave in the cannabis industry. The preferred shares include a hedging strategy, allowing for conversion to common shares if the market grows or redemption at face value if it underperforms.
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