Canna-Global Acquisition, a blank check company targeting the cannabis industry, filed on Monday with the SEC to raise up to $200 million.
The Marina Del Rey, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Canna-Global Acquisition would command a market value of $257 million.
The company is led by CEO and Director Antony Gordon, who has spearheaded boutique business advisory and business development firm Stealth Consulting Management since 2013. The company plans to target businesses in the cannabis industry, but states that it will not target businesses located in China or Hong Kong.
Canna-Global Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CANN.U. EF Hutton is the sole bookrunner on the deal.
