good afternoon Kyle and Thanks everyone.
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million of issued will company’s subsidiary convert million company the equity into Glass $XX.X House create $XX.X to the out Additionally, preferred of brands million preferred the convert commitments series. existing a the currently shares of by The has $XX company to $XX.X million with dividend Holders existing additional principal. preferred cash to The quarterly X. Glass accruing paid by be entitled and increases Group to will XX% which shares be to preferred of House the the amount equity. year gradually a dividend, XX% XX% will new the
at share holder X warrants of for receive one Glass In to acquire House, will equity of investment, addition, of two $X each being a with preferred term following years each of the price exercisable issuance. of a the $XX Glass warrant House
New of final preferred Exchange, the to The by the offering, ‘XX. XX the subject the approval occur of end expected to targeted thereafter. first of A August closing XX York share to days is equity is close for
expansion incremental our cash to the in CapEx operations, rate reaching We reaffirming of are guidance. Despite market free necessary excluding guidance run capital will flow are we conditions, this provide confident difficult achieve continued XXXX. the this early positive
the balance cost the we the quarterly $XXX strong our addition, projections In at prior reducing are In new cultivation of QX now the to average we to Casitas and are guidance providing this and calls, provide from following and on target across we per start-up SoCal for farms for Based our farm, year. cost a year. three longer-term provided for of of of the production results Padaro, pound. QX ready
production pound farm in Please of $XXX QX. QX improvement are from to through estimates per its is cost last in reduction up XX% note Our completing $XXX pound the for that year. QX, per QX a $XXX and our represents QX per pound in SoCal ramp
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for NHC is acquisition and pharmacy with consistent revenue stores. target million QX assumes our our includes $XX a as revenue and from well as QX partial QX quarter Our remains wholesale new pricing
for almost the are through we primary the of quarter, year. the focus our execution on is third As halfway balance
our Center place flow turn XXXX, in call feet of will expansion run With rate be early CapEx feet new dispensaries We to business, existing deliver and have Products, our we Kyle. well that, square to the excluding I revenue in and of be square California addition base goals. to pharmacy positioned $XXX the against Plus XXX,XXX of joining to million by successful our back Natural cash in positive, with cultivation dispensaries, financial SoCal by to XXXX pieces are and XXX already the cultivation, Healing four four achieve
