Hemp manufacturing company Hempacco Co., Inc. (Nasdaq: HPCO) started trading its shares on the Nasdaq Capital Market on Tuesday. The initial public offering is estimated to gross US$6 million.
The offering consists of 1.0 million common shares, initially set at 3.0 million, selling at US$6.00 per share. The company is set to trade on the Nasdaq market under the symbol “HPCO”.
Boustead Securities acts as the sole bookrunner for the said offering, which is slated to close on September 1, 2022, subject to customary closing conditions.
The California-based firm makes CBD and hemp-based cigarettes, offering smokers a non-nicotine and tobacco alternative. The company aims to take on the US$1 trillion tobacco industry with its portfolio, including its own The Real Stuff functional hemp cigarette and rolling paper brand.
Information for this briefing was found via Edgar, Investment U, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.