Cannabis Blank Check Co. Among 2 IPOs Raising $450M

Law360 (November 8, 2019, 3:53 PM EST) -- Two blank check companies, including one seeking to acquire cannabis-related businesses, debuted in public markets Friday after pricing initial public offerings totaling $450 million, sustaining an otherwise tepid IPO market that is seeing few operating companies go public.

Stable Road Acquisition Corp., which is focused on the cannabis sector, raised $150 million after selling 15 million units at $10 each. Advised by Ellenoff Grossman & Schole LLP, Stable Road saw its shares began trading Friday on the Nasdaq under the symbol “SRAC.”

Juniper Industrial Holdings, which is targeting the industrial sector, also raised $300 million by offering, selling $30 million units...

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