While other cannabis industry SPAC’s have seemed to make big splashy entrances to the market, Ibere Pharmaceuticals quietly closed on an upsized offering and listed its shares on the New York Stock Exchange, and began trading on February 26, 2021, under the ticker symbol “IBERU.” At the beginning of February, the company filed for a $100 million offering and that quickly jumped to $120 million before settling on $138 million. Iberia’s CEO is Osagie Imasogie, the co-founder and senior managing partner of the Philadelphia private equity firm PIPV Capital. Imasogie is also board chairman of Zelira Therapeutics, a therapeutic medicinal cannabis company that has operations in Philadelphia and Australia. While Ibere hasn’t specifically stated it is going to focus on cannabis, the Zelira connection could be a signal of that intention.

Gaven Rank, Green Market Report, 03/09/2021 08:39:00

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