Cannabis-focused Achari Ventures Holdings I registered to offer 10 million units at $10 each. A unit consists of one share of common stock and one redeemable warrant exercisable for a share at $11.50.
Achari is led by CEO and Chairman Vikas Desai, who in 2018 founded Welcan Capital, a predecessor of Achari Ventures, a venture capital firm focused on the cannabis industry.
Chardan is sole book-running manager. The underwriters have an over-allotment option to purchase up to an additional 1.5 million units.
Achari in the filing said it has applied to list on the Nasdaq under AVHIU. Read more.
