AKANDA CORP Stock Price, News & Analysis

Akanda Corp. (NASDAQ: AKAN) has announced a significant Share Exchange Agreement with First Towers & Fiber Corp., a telecommunications infrastructure company operating in Mexico. Under the agreement, First Towers will become a wholly-owned subsidiary of Akanda, with the transaction structured as follows:

- First Towers shareholders will receive 1 Akanda share for every 2.5 First Towers shares, totaling approximately 15.3 million shares
- Select shareholders will receive approximately $14.1 million in cash, payable 18 months post-closing
- Post-transaction, First Towers shareholders will own about 83.1% of the combined company, while certain debt holders will own 5.8%

Additionally, Akanda will maintain its Canadian farming property development plans for THC and CBD facilities while discontinuing its UK-based cannabis distribution business through Canmart The company will continue trading on the Nasdaq Capital Market under the ticker AKAN.

Akanda Corp. (NASDAQ: AKAN) has announced a 1-for-2 reverse stock split effective November 14, 2024. This follows a previous 1-for-40 reverse split from May 23, 2024. The latest split will reduce outstanding common shares from approximately 4.1 million to 2.0 million. The company's shares will continue trading under the symbol 'AKAN' with a new CUSIP number 00971M403 and ISIN code CA00971M4039. All outstanding options, warrants, and convertible securities will be adjusted accordingly. No fractional shares will be issued, and fractions will be rounded down to the nearest whole number.

Akanda Corp. (NASDAQ: AKAN), an international medical cannabis company, has closed its underwritten public offering. The company issued 258,940 Common Shares at $1.00 per share and 1,241,060 pre-funded warrants to purchase Common Shares. The gross proceeds from the offering were $1,500,000 before deducting underwriting discounts and expenses.

The pre-funded warrants are immediately exercisable at $0.0001 per share. Univest Securities, acted as the underwriter for the offering. Akanda intends to use the net proceeds for capital expenditures, operating capacity, working capital, potential milestone payments for a Canadian property option, general corporate purposes, refinancing or repayment of existing debt, and potential acquisitions.

Akanda Corp. (NASDAQ: AKAN) has announced the pricing of an underwritten public offering of 1,500,000 common shares (or pre-funded warrants) at $1.00 per share or $0.9999 per pre-funded warrant. The offering, underwritten by Univest Securities, , is expected to generate gross proceeds of approximately $1,500,000 before deducting fees and expenses.

The offering is set to close around October 3, 2024, subject to customary conditions. Akanda intends to use the net proceeds for capital expenditures, operating capacity, working capital, potential milestone payments for a Canadian property option, general corporate purposes, refinancing or repaying existing debt, and potential acquisitions.

The offering is made pursuant to an effective registration statement on Form F-1 declared effective by the SEC on September 30, 2024. A final prospectus will be filed with the SEC and available on their website.

Akanda Corp. (NASDAQ: AKAN) has secured a hemp cultivation license in Canada, marking a significant milestone in its expansion strategy. This license is directly linked to Akanda's previously announced agreement with 1107385 B.C. , reinforcing the company's commitment to establishing a strong presence in the Canadian cannabis market. The development underscores Akanda's dedication to executing its strategic vision and solidifying its position as a global leader in the cannabis industry.

Akanda (NASDAQ: AKAN), a global medical cannabis company, completed the sale of securities under its Form F-3 shelf registration statement, raising approximately $4.98 million in gross proceeds. The shelf registration had a capacity of $5 million and was effective from January 29, 2024. Interim CEO Katie Field stated that Akanda has now fully utilized the registration's capacity and will need to file a new registration for any future offerings. The securities were sold through a previously filed Form S-3 with the SEC.

Akanda Corp. (NASDAQ: AKAN), an international medical cannabis company, has announced that it has regained compliance with Nasdaq's Minimum Bid Price Requirement. On June 7, 2024, Nasdaq's Listing Qualifications Department informed Akanda that its common shares maintained a closing bid price of at least $1.00 for 10 consecutive business days, from May 23, 2024, to June 6, 2024. This comes after a prior notification on July 3, 2023, indicating non-compliance with the same rule, which mandates a minimum bid price of $1.00 over 30 consecutive business days. The matter is now considered closed by Nasdaq.

Akanda, an international medical cannabis company, announces a 1-for-40 reverse stock split effective May 23, 2024. This means every 40 shares of Akanda's ordinary shares will be consolidated into one. Trading will continue under the symbol 'AKAN' on Nasdaq with a new CUSIP number, 00971M304. No fractional shares will be issued; fractions will be rounded down. The split does not alter any shareholder's percentage interest, except for fractional share adjustments. The reverse split was approved by the board and shareholders, with Articles of Amendment filed with Ontario's government on the effective date.

Akanda (NASDAQ: AKAN), a medical cannabis company, closed its second registered direct offering, issuing 2,491,381 common shares at $0.1031 per share and 12,057,600 pre-funded warrants at $0.103 per share. The pre-funded warrants are immediately exercisable at $0.0001 per share. Gross proceeds reached approximately $1.5 million. Univest Securities acted as the financial advisor for the offering. Funds will be used for capital expenditures, operating capacity, working capital, general corporate purposes, refinancing of debt, and acquisitions. The offering was made under an effective shelf registration statement filed with the SEC.