Canna-Global Acquisition, a blank check company targeting the cannabis industry, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.
The company is led by CEO and Director Gerald Combs, the CEO of CASH International Asset Management and investment banking firm Jerald Capital. 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 plans to list on the Nasdaq under the symbol CNGLU. EF Hutton acted as sole bookrunner on the deal.
