Update on the IPO of Cariloha, Inc. and Akanda Corp.

Cariloha, Inc.

Company Overview

Cariloha, Inc. (ALOHA) is an omnichannel brand that emphasizes soft and sustainable consumer products spanning across bath products, bedding and clothing. The products are primarily made of Bamboo, which is one of the most sustainable and renewable resources on Earth. The company markets and sell its products through e-commerce and offline mode such as showrooms and wholesale channel. Further, the company has ties with major cruise lines and showrooms located in high traffic destinations and cruise ports of call, giving access to thousands of new customers to its stores.

Latest Update on the IPO

• As per the latest S-1/A filing, the company has downsized its IPO.
• The company is now planning to issue 2,000,000 Shares (Class A Common Stock) from 2,300,000 announced erstwhile.
• The currently estimated offer price per share of common stock will be between $9.00 and $11.00, from $12-$14 announced earlier.
• The earlier expected IPO date for Cariloha, Inc. was February 11, 2022. However, the company had postponed its IPO and the new date is not yet declared but it would be as soon as practicable after the registration statement is declared effective, as per the S-1/A filing.
  

Akanda Corp.

Company Overview

Akanda Corp. is a cannabis cultivation, manufacturing, and distribution company whose mission is to provide premium quality medical cannabis products worldwide. The company cultivates and processes natural cannabis at facilities in the Kingdom of Lesotho, Africa, and intends to supply medicinal-grade cannabis biomass, cannabis flower, and cannabis concentrates to wholesalers in international markets.

Latest Update on the IPO

On February 25, 2022, the IPO of Akanda Corp. has been postponed. The company might provide updates as applicable.

The company had expected to begin trading on February 25, 2022, on the NASDAQ-CM exchange under the proposed symbol “AKAN”. This IPO was expected to offer 4 million common shares at a price of $4 per share, according to the company’s registration statement.

*Please note that an IPO can be postponed or put on Hold at the discretion of the company or regulatory authority.

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