Hempacco ignites 600% after IPO
30/08/2022 15:38
** Hemp-based cigarette maker Hempacco HPCO.O soars in
Nasdaq debut on Tues after IPO prices
** HPCO opens at $38.00 vs $6 IPO price, climbs as high as
$41.80. Stock last at $34.20 before trading halt
** Co sold 1 mln shares with Boustead Securities as sole
bookrunner (See filing https://www.sec.gov/Archives/edgar/data/1892480/000147793222006381/hemp_s1a.htm)
** San Diego, California co produces nicotine-free and
tobacco-free smokable hemp and herb products, The Real Stuff
Smokables, and hemp-based cigarettes for private label customers
in cannabis and tobacco alternatives industries
** HPCO incurred net loss of $975K and had accumulated
deficit of $4.4 mln for six months ended in Jun
** Co has 23 mln shares outstanding post-IPO
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))
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