Canadian cannabis company CannTrust Holdings Inc. said Monday it is planning a secondary offering of $200 million of its common shares with the aim of financing cultivation and facility expansion, expanding outdoor growing, expanding internationally and for upgrading its extraction capacity. BofA Merrill Lynch, Citigroup, Credit Suisse and RBC Capital Markets are lead book-running managers for the offering, with Jefferies and Canaccord Genuity acting as co-managers. Separately, the company provided guidance for the first quarter, based on preliminary, unaudited results. The company is expecting revenue of about C$17 million ($13 million), up from C$7.8 million in the year-earlier period, driven by a 68% increase in medical patients and the first full quarter of adult recreational use following legalization in Canada last October. Net income is expected to range from C$12 million to C$14 million, up from C$11.4 million. The company harvested about 9,424 kg of cannabis from its Niagara Facility, up 96% from the fourth quarter. The average revenue per dry gram rose 14% in the quarter. U.S.-listed shares fell 3.9% in premarket trade, but have gained 29.6% in the last 12 months, while the S&P 500 has gained 8.5%.