Cannabis blank check Tuscan Holdings files for a $200 million IPO

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Tuscan Holdings, a blank check company targeting the cannabis industry, filed with the SEC on Wednesday to raise $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. At $10, Tuscan Holdings would command a market value of $258 million. Each unit consists of one share of common stock and one warrant to purchase a share of common stock at $11.50.

Tuscan Holdings was founded in 2018 and plans to list on the Nasdaq under the symbol THCBU. EarlyBirdCapital is the sole bookrunner on the deal.

The article Cannabis blank check Tuscan Holdings files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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