TLRY - U.S. IPO Week Ahead: One Cannabis SPAC Lights Up A Dim IPO Market
Following the IPO Index's sharpest drop ever recorded, one cannabis SPAC is keeping the IPO market alive, expected to raise $150 million in the week ahead. Social Capital's latest SPACs ([[IPOB.U]], [[IPOC.U]]) are also eligible to price this week.
Led by former Canopy Growth (CGC) executives, Collective Growth Corp (CGROU) plans to raise $150 million at a $190 million market cap. The acquisition vehicle intends to focus on ancillary cannabis businesses rather than those that handle the product directly. The cannabis industry has struggled recently; Sundial Growers (SNDL) became a penny stock this past week,