Cannabis Investment Vehicles Long For High Times

By Dane Hamilton  

The cannabis stock selloff over the last year which caused investments to go up in smoke also threatens to upend plans for cannabis special purpose acquisition companies (SPACs) that were formed in the last year to buy cannabis assets when values were high, industry experts say.  

Over a dozen SPACs have collectively raised over $3 billion from June 2019 through the present with mandates to buy cannabis and cannabis-related companies, according to cannabis-focused investment bank ELLO Capital. The companies typically have 18-to-24 months to buy private companies or give the money back to investors.

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