New Jersey-based Achari Ventures Holdings Corp. I, is a newly organized blank check company or SPAC. The company said its initial focus will be on identifying acquisition opportunities in the cannabis industry. It will not invest in or consummate a business combination with a target business that we determine has been operating in violation of U.S. federal laws, including the Controlled Substances Act. The initial goal is to raise $100 million, but it could go as high as $115 million. The proposed NASDAQ symbol is AVHIU. The SPAC has identified four verticals it will focus on for investment: equipment, hardware, technology, and hydroponics. Achari Ventures, whose predecessor was founded in 2018, is an investment firm focused on the rapidly growing cannabis industry, is an affiliate of our sponsor. Achari Ventures has a cannabis advisory network, consisting of entrepreneurs and CEOs with proven track records of successful operations in the highly regulated cannabis space. During the past three years, Achari Ventures has evaluated more than 1,500 companies related to the cannabis industry, built a vast network of business contacts, and invested in more than 15 companies. This is an initial public offering and each unit has an offering price of $10.00 and consists of one share of common stock and one redeemable warrant.
William Pressley, Green Market Report, 08/09/2021 14:07:00
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