Cannabis SPAC Stable Road Acquisition prices $150 million IPO at $10

Stable Road Acquisition Corp., a blank check company focused on companies within the cannabis industry, raised $150 million by offering 15 million units at $10 to command a market value of $193 million. Each unit consists of one share of common stock and one half of one warrant to purchase common stock at a price of $11.50 per share.

Stable Road Acquisition Corp. plans to list on the Nasdaq under the symbol SRACU. Cantor Fitzgerald acted as a lead manager on the deal.

The article Cannabis SPAC Stable Road Acquisition prices $150 million IPO at $10 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.

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