Cannabis blank check Tuscan Holdings files for a $200 million IPO

Tuscan Holdings, a blank check company targeting the cannabis industry, filed with the SEC on Wednesday to raise $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. At $10, Tuscan Holdings would command a market value of $258 million. Each unit consists of one share of common stock and one warrant to purchase a share of common stock at $11.50.

Tuscan Holdings was founded in 2018 and plans to list on the Nasdaq under the symbol THCBU. EarlyBirdCapital is the sole bookrunner on the deal.