West Memphis Company Secures $4M in Private Equity Funding
A company in West Memphis, GLWM Medicinal Investment Co. LLC, recently raised nearly $4 million through a private equity placement. This company, incorporated in September, disclosed in a Form D filing with the U.S. Securities & Exchange Commission that it had successfully sold $3.93 million out of the $4.15 million it had offered to thirteen investors who responded starting on October 23.
Although the filing did not provide specific details about the business, it hinted that GLWM Medicinal is likely involved in the medical marijuana industry. This assumption is supported by the fact that GLWM shares an address with Greenlight Dispensary West Memphis and that William R. Mullen, associated with Good Day Farm, signed the SEC filing at a Little Rock address, indicating a potential connection to medical marijuana production and sales.
Furthermore, James Barnes, who has ties to Greenlight Dispensary Little Rock, incorporated GLWM Medicinal Investment Co. LLC on September 27.
This news suggests exciting developments in the cannabis industry, with companies like GLWM Medicinal securing significant investments to support their operations. It will be interesting to follow their progress and see how they contribute to the growing field of medical marijuana.
