Silver Spike Acquisition Corp, a blank check company targeting the cannabis industry, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at a price of $10, where it would command a market value of $313 million. Each unit consists of one share of common stock and one-half of one warrant; each whole warrant is exercisable at $11.50.
Silver Spike Acquisition Corp was founded in 2019 and plans to list on the Nasdaq under the symbol SSPKU. The company filed confidentially on June 21, 2019. Credit Suisse is the sole bookrunner on the deal.
