Cannabis SPAC Tuscan Holdings Corp II files for a $125 million IPO

Tuscan Holdings Corp II, the second blank check company led by Stephen Vogel to target the cannabis industry, filed with the SEC on Wednesday to raise $125 million in an initial public offering.

The New York, NY-based company plans to raise $125 million by offering 12.5 million units at a price of $10, where it would command a market value of $158 million. Each unit consists of one share of common stock and one-half of one warrant.

Tuscan Holdings Corp II was founded in 2019 and it plans to list on the Nasdaq under the symbol THCAU. EarlyBirdCapital is the sole bookrunner on the deal.