As early as tomorrow, a new American cannabis company could go public, adding to the list of pot stock IPOs.
The company is Acreage Holdings. And it’s one of the most anticipated pot stock IPOs.
Shares could surge in tomorrow’s market debut. Want to multiply your profits from new pot stock IPOs?
Acreage Holdings made headlines this spring when the company added John Boehner to its advisory board. Boehner was a Republican Speaker of the House of Representatives. Until recently, he was opposed to cannabis legalization.
Today, the company closed a $314 million financing in conjunction with its plans to go public.
The stock offering took place at $25 per share.
Acreage will go public through a reverse merger with Applied Inventions Management Corp.
This transaction allows Acreage to go public more quickly than a conventional initial public offering or IPO. Reverse mergers are a common way for cannabis companies to go public in Canada.
Acreage Holdings stock is expected to begin trading on the Canadian Securities Exchange on Nov. 15.
Back in July, Acreage raised $119 million from investors in a private financing. At the time, it was the largest financing for a U.S. cannabis company.
Acreage is headquartered in New York state. The company operates cultivating, processing and dispensaries in 14 states. These include Arizona, California, Connecticut, Colorado, Florida, Illinois, Iowa, Maine, Maryland, New Jersey, New York, Oregon, Pennsylvania and Washington.
The company is backed by retired politicians including former Massachusetts Governor William Weld and former Canadian Prime Minister Brian Mulroney.
Corporate support comes from board members including the former chairman of Time Warner Telecom and former CFO at IBM.
Acreage aims to be one of the biggest marijuana companies in the U.S. market.
This market could be valued at $100 billion within ten to 12 years, by some projections. That makes the U.S. market ten times bigger than Canada.
Top players including Acreage Holdings, MedMen (OTC: MMNFF) and Green Thumb Industries (OTC: GTBIF) are rushing to secure licenses and facilities across the country.
Acreage shares could surge out the gate. That’s because it’s the most anticipated cannabis company to go public in 2018.
Get more details on Acreage and pot stock IPOs inside tomorrow’s issue.
Want to make bigger profits from these top seven cannabis stocks? You may be shocked to hear that you can even make money when these stocks surge . . . move sideways . . . or even drop in price.
Go here now for tomorrow’s urgent briefing.
Yours in Profits,