West Memphis Company Secures $4 Million in Private Equity Investment
A West Memphis company that was incorporated in September recently announced that it has successfully raised nearly $4 million through a private equity placement. GLWM Medicinal Investment Co. LLC, the company behind this achievement, disclosed in a Form D filing with the U.S. Securities & Exchange Commission that they had sold $3.93 million of the $4.15 million they had offered, with thirteen investors responding to the offer since October 23.
While the filing did not provide specific details about the nature of the business, it is widely speculated that GLWM Medicinal is involved in the medical marijuana industry. Several clues point to this assumption, such as GLWM’s address being the same as Greenlight Dispensary West Memphis and the signing of the SEC filing by William R. Mullen, who is associated with Good Day Farm, a medical marijuana producer and seller in Little Rock where Mullen serves as general counsel. Attempts to reach out to the phone number provided in the filing were unsuccessful at the time of press.
GLWM Medicinal Investment Co. LLC was incorporated on September 27 by James Barnes, who has previously been linked to Greenlight Dispensary Little Rock. Keep an eye out for more updates and developments in this story.
