UK SPAC launches IPO as first medical cannabis company in UK

250 million new shares

Listed shell company UK SPAC has listed shares on London Stock Exchange in its £45m reverse take-over of Greek medical cannabis cultivation company Hellenic Dynamics Ltd.

The new combined company will see UK SPAC rebranded as Hellenic Dynamics plc, according to the prospectus published today (15 November). Once admitted, it will be the first medical cannabis cultivator listed on the main London Stock Exchange. FCA slashes SPAC capital raise requirement in confirmation of new rules Under the terms of the acquisition, 10,414,447,530 ordinary shares of £0.001 each will be issued to the shareholders of Hellenic Dynamics at a price of 0.3 pence each. There will also be 250 million new ordinary shares at a subscription price of £0.003 each to raise £75...