On October 2, 2024, Akanda Corp. announced that it has entered into a firm commitment underwriting agreement with Univest Securities, LLC, for an underwritten public offering. Univest Securities, LLC has agreed to purchase 1,500,000 common shares at a public offering price of $1.00 per share. The gross proceeds to Akanda are estimated to be approximately $1,500,000.
The offering is expected to close on October 3, 2024, subject to customary closing conditions. Akanda intends to utilize the net proceeds from the offering for various purposes such as capital expenditures, operating capacity, working capital, potential milestone payments, general corporate purposes, and refinancing or repayment of existing indebtedness.
The offering is being made in accordance with an effective registration statement filed with the U.S. Securities and Exchange Commission. A final prospectus relating to the offering will be available on the SEC’s website.
Akanda Corp. is an international company operating in the cannabis industry in Europe and North America. The company aims to provide high-quality medical cannabis and wellness products to consumers worldwide while promoting sustainable business practices.
Please note that this press release may contain forward-looking statements. Such statements are based on Akanda’s belief regarding future events and are inherently uncertain. Akanda does not undertake to update any forward-looking information unless required by applicable securities laws.
For more information, please visit the original source: https://www.newsfilecorp.com/release/225329.
