Achari Ventures Holdings I Files for $100M IPO

Cannabis

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

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