Akanda Corp. Completes Registered Direct Offering
Ticker: AKAN · Form: 6-K · Filed: Mar 6, 2024 · CIK: 1888014
| Field | Detail |
|---|---|
| Company | Akanda Corp. (AKAN) |
| Form Type | 6-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.16872, $0, $0.0001, $500, $10,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: offering, equity-raise, foreign-private-issuer
TL;DR
Akanda Corp. sold 367,870 shares to investors on March 4, 2024.
AI Summary
On March 4, 2024, Akanda Corp. completed a registered direct offering, selling 367,870 common shares to accredited investors. The company, organized under Ontario law, is a foreign private issuer filing a Form 6-K report for March 2024.
Why It Matters
This offering provides Akanda Corp. with capital from investors, potentially impacting its financial stability and future operational capacity.
Risk Assessment
Risk Level: medium — Registered direct offerings can dilute existing shareholders and may indicate a need for immediate capital, suggesting potential financial pressures.
Key Numbers
- 367,870 — Common Shares Sold (Number of shares issued in the registered direct offering)
Key Players & Entities
- Akanda Corp. (company) — Registrant and issuer of shares
- March 4, 2024 (date) — Date of the securities purchase agreement and offering
- 367,870 (dollar_amount) — Number of common shares sold
- Ontario (location) — Province where Akanda Corp. is organized
FAQ
What was the total number of common shares sold by Akanda Corp. in the registered direct offering?
Akanda Corp. sold 367,870 of its Common Shares in the registered direct offering.
When did Akanda Corp. enter into the securities purchase agreement for the offering?
Akanda Corp. entered into the securities purchase agreement on March 4, 2024.
Who were the purchasers in the registered direct offering?
The offering was made to certain accredited investors.
Under the laws of which province is Akanda Corp. organized?
Akanda Corp. is a corporation organized under the laws of the Province of Ontario.
What type of filing is this report for Akanda Corp.?
This is a Form 6-K report, which is a Report of Foreign Private Issuer.
Filing Stats: 730 words · 3 min read · ~2 pages · Grade level 13.6 · Accepted 2024-03-05 18:05:28
Key Financial Figures
- $0.16872 — Shares”), at a purchase price of $0.16872 per Offered Share, and pre-funded warra
- $0 — on Share is sold in the Offering, minus $0.0001, and the exercise price of each pr
- $0.0001 — ise price of each pre-funded warrant is $0.0001 per share (the “Pre-Funded Warran
- $500 — any agreed to pay Univest a cash fee of $500 to be paid at the closing of the Offeri
- $10,000 — an amount not to exceed an aggregate of $10,000. The gross proceeds from the Offering
- $125,000 b — ds from the Offering were approximately $125,000 before deducting Univest’s fees and
Filing Documents
- ea0201227-6k_akanda.htm (6-K) — 17KB
- ea0201227ex1-1_akanda.htm (EX-1.1) — 192KB
- ea0201227ex4-1_akanda.htm (EX-4.1) — 84KB
- ea0201227ex5-1_akanda.htm (EX-5.1) — 36KB
- ex5-1_001.jpg (GRAPHIC) — 11KB
- 0001213900-24-020207.txt ( ) — 346KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AKANDA CORP. (Registrant) Date: March 6, 2024 By: /s/ Katie Field Name: Katie Field Title: Interim Chief Executive Officer and Director 2