Northern Lights Acquisition registered with the SEC to offer 10 million units at $10 each. A unit onsists of one share of Class A common stock and one-half of one redeemable warrant; whole warrants exercisable at $11.50.
Kingswood Capital Markets is the sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover any over-allotments.
The SPAC intends to concentrate on companies in the cannabis industry.
Northern Lights is led by Co-CEOs John Darwin and Joshua Mann, both co-founders and managing partners of Luminous Capital.
The SPAC said it hias applied for a Nasdaq listing under NLITU. Read more.
