MARKET PULSE
Akanda Corp. has priced 4 million common shares at $4 per share for proceeds of $16 million in its initial public offering for trading Tuesday on the Nasdaq. Boustead Securities LLC, the lead underwriter for the offering, will raise capital for property, plant and equipment and general corporate purposes as Akanda builds up a legal cannabis business in the U.K. and Europe. Akanda’s current portfolio includes Bophelo Bioscience and Wellness, a cultivation campus in the Kingdom of Lesotho and CanMart, a pharmaceutical importer and distributor in the U.K.
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