Akanda corp. announces closing of underwritten public offering

London, united kingdom--(newsfile corp. - march 27, 2024) - on march 24, 2024, akanda corp. (nasdaq: akan) ("akanda" or the "company"), an international medical cannabis company, entered into an underwriting agreement (the "underwriting agreement") with univest securities, llc ("univest") as the underwriter in connection with the issuance and sale by the company in an underwritten public offering (the "offering") of 3,087,443 of the company's common shares, no par value per share (the "common shares" and, such number of common shares issued and sold in the offering, the "offered shares"), at a purchase price of $0.1217 per offered share, and pre-funded warrants to purchase 37,997,190 common shares at a purchase price of each pre-funded warrant equal to the price at which one common share is sold in the offering, minus $0.0001, and the exercise price of each pre-funded warrant is $0.0001 per share (the "pre-funded warrants" and, such number of pre-funded warrants issued and sold in the offering, the "offered pre-funded warrants"), pursuant to the company's effective registration statement on form f-1 (file no. 333-277182) and a related preliminary prospectus, together with the related final prospectus dated as of march 26, 2024 (such registration statement, preliminary prospectus and the final prospectus, collectively, the "registration statement"), filed with the securities and exchange commission.
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